Stablecoin payments firm KAST has reportedly closed an $80 million funding round co-led by QED Investors and Left Lane Capital.
The proceeds will fund expansion across North America, Latin America, and the Middle East, as well as hiring, licensing, and product development.
Why it matters:
- A $600 million valuation for an early-stage stablecoin payments firm signals rising institutional conviction in fiat-denominated blockchain rails.
- QED and Left Lane backing distinguish this from pure crypto-native fundraises.
The details:
- According to Bloomberg, the round’s terms were settled in October.
- The latest fundraising round valued the company at $600 million.
- KAST previously raised capital in a December 2024 seed round. It was led by HongShan Capital (formerly Sequoia China) and Peak XV Partners.
- The company expects $100 million in annual revenue run rate in 2026.
The big picture:
- Stablecoin market cap crossed $313 billion in March 2026, a fresh all-time high as payments use cases expand.
- Stablecoin infrastructure, custody services, and tokenized real-world assets dominated early-2026 funding rounds.
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