Odaily Planet Daily reports that stablecoin payment company KAST has raised $80 million in funding, co-led by QED Investors and Left Lane Capital. The funds will be used to expand into North America, Latin America, and the Middle East, as well as for hiring, licensing applications, and product development. The new valuation is approximately $600 million. According to sources familiar with the matter, the terms of this funding round were finalized in October, and the company is on track to achieve annualized revenue of $100 million this year. (Bloomberg)
Stablecoin payment firm KAST completes $80M funding at a $600M valuation
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Summary
Stablecoin payment company KAST has secured $80 million in project funding, raising its valuation to $600 million. The round was led by QED Investors and Left Lane Capital. The funds will support expansion into North America, Latin America, and the Middle East, as well as hiring, licensing, and product development. Financing terms were finalized in October, with annualized revenue projected to reach $100 million in 2024. The company is also preparing to list new tokens to expand its payment offerings.
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