Stablecoin payments company KAST has reportedly completed an $80 million funding round co-led by QED Investors and Left Lane Capital.
Proceeds will be used to fund business expansion, hiring, licensing and product development in North America, Latin America and the Middle East.
Why it’s important:
- The early-stage stablecoin payments company’s $600 million valuation signals growing institutional confidence in fiat-denominated blockchain rails.
- The backing of QED and Left Lane distinguishes this from pure crypto-native funding.
detail:
- Terms of the round were finalized in October, according to Bloomberg.
- The latest funding round valued the company at $600 million.
- KAST previously raised funding in a seed round in December 2024. This was led by HongShan Capital (formerly Sequoia China) and Peak XV Partners.
- The company expects an annual revenue run rate of $100 million in 2026.
Big picture:
- Stablecoin market capitalization exceeded $313 billion in March 2026, setting a new all-time high as payment use cases expand.
- Stablecoin infrastructure, custodial services, and tokenized real-world assets accounted for the majority of funding rounds in early 2026.
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