KAST Raises $80 Million, Valuation Reaches $600 Million

Stablecoin payment company KAST has completed an $80 million funding round at a valuation of approximately $600 million, Bloomberg reports. The round was co-led by QED Investors and Left Lane Capital, with proceeds earmarked for expansion into North America, Latin America, and the Middle East, as well as hiring, licensing applications, and product development. Sources familiar with the deal said financing terms were finalized in October and the company is on track to reach $100 million in annualized revenue this year.