KAST, a stablecoin-powered financial platform focused on cross-border payments, raised $80 million in Series A funding led by QED Investors and Left Lane Capital, the company announced on Monday.

The company said it plans to use the funding to expand its product, invest in licensing and compliance and grow its team. KAST is building a platform that helps people and businesses move money across borders using stablecoins, allowing users to earn income globally, hold funds digitally, and spend locally through a single system.

Stablecoin activity has surged in recent years, with more than $35 trillion in transactions last year. However, only about 1% represented real-world payments such as remittances or payroll, according to McKinsey and Artemis Analytics, leaving significant room for new payment platforms to grow.

Peak XV Partners, HSG, and DST Global Partners also joined the early-stage funding round, which valued the company at $600 million, according to sources cited by Bloomberg.

In its press release, the company said it has reached more than 1 million users and processes about $5 billion in annualized transaction volume since launching 18 months ago. Revenue has doubled since the end of September 2025, it added.

KAST connects digital dollars with local payout systems in supported markets. The platform aims to reduce the time, cost and number of steps involved in sending money across borders.

“The latest funding reflects the confidence of leading investors in the stablecoin thesis and in KAST’s ability to execute it at global scale,” said Raagulan Pathy, founder and CEO of KAST.

KAST plans to expand across North America, Latin America and the Middle East. The company also plans to roll out KAST Business for payouts, payroll and cross-border spending.

“Stablecoin technology holds the potential to reshape the future of finance. We are thrilled to lead this round at KAST,” said Nigel Morris, co-founder and managing partner at QED Investors.