ChainThink reports that on March 9, according to Bloomberg, stablecoin payment company KAST raised $80 million in its latest funding round, valuing the company at approximately $600 million. Sources familiar with the matter said that as demand grows for products like "digital dollar accounts," venture capital firms are continuing to increase their investments in related startups.
It is reported that KAST expects its annual recurring revenue (ARR) to reach $100 million this year. The company is committed to providing users with stablecoin-based payment and account services, enabling dollar settlements via blockchain networks.
Industry insiders point out that, amid the ongoing expansion of stablecoin applications, companies offering stablecoin payments and digital dollar account services are becoming a key focus area for venture capital.
ChainThink previously reported that on December 12, 2024, the stablecoin payment platform KAST announced the completion of a $10 million seed round led by HongShan and Peak XV. The funds raised will be used to launch savings products and expand remittance services, while continuing to focus on stablecoin-based infrastructure.