KAST Secures US$10 Million Seed Funding Led By HSG and Peak XV Partners
KAST Secures US$10 Million Seed Funding
Cayman Islands, George Town, 12th December 2024, Chainwire. KAST, a financial technology platform built on stablecoins to deliver a neobank-style experience, has raised US$10 million in seed funding. The round is led by HSG (HongShan Capital Group) and Peak XV Partners. A number of high-profile angels, partners of DST Global, and Goodwater Capital also joined the round.
Changing the Banking Experience
For most countries and over half of global GDP, banking does not match the openness and speed of the Internet, it’s fundamentally broken. Stablecoins are the clear solution, but the user experience wasn’t great. We are building KAST to change this,” says Raagulan Pathy, KAST’s Co-Founder.
- KAST offers payment cards and USD-denominated accounts.
- Available to users in over 150 countries.
- Enables sending and receiving cash without touching fiat directly.
The maturing of stablecoin regulation and acceptance has led to rapid integration with traditional finance networks, enabling users to send money faster, cheaper, and more securely.
Embracing Future Banking
The next generation of neobanks will be built on stablecoins and inherently global by DNA. KAST needs to access innovative financial solutions efficiently as it aims for a global user base.
- Completed $10 million seed funding round at an undisclosed valuation.
- Strong traction in user adoption and revenue within the first four months.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.