Stablecoin payments firm KAST raises $80M at $600M valuation, targeting $100M annual revenue run rate in 2024.
DeFi & Yields ·
Stablecoin payments platform KAST has closed an $80 million funding round led by QED Investors and Left Lane Capital, according to Bloomberg, valuing the company at approximately $600 million. The platform offers accounts for storing, earning, and spending stablecoins, with the company targeting an annual revenue run rate of $100 million in 2024.
The raise signals investor confidence in stablecoin-native payment infrastructure as adoption of digital dollar alternatives continues. KAST's positioning around on-chain yield and spending mechanisms places it within the growing segment of fintech firms building rails for stablecoin commerce and treasury management.
Key details around the deployment of capital and specific investor participation beyond the lead sponsors remain unspecified in available reporting.