Kast, the stablecoin-native fintech founded by former Circle executive Raagulan Pathy, has closed an $80 million Series A round co-led by QED Investors and Left Lane Capital, valuing the company at roughly $600 million. Founded in July 2024, the startup already reports over 1 million users and annualized transaction volume approaching $5 billion. The company is launching Kast Business to onboard enterprises needing to move money globally via stablecoin rails, targeting 1,000 to 5,000 active businesses and $100 million revenue run rate by end of 2026. The fundraise comes as global on-chain stablecoin volumes exceeded $33 trillion, representing 72% year-over-year growth.
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