• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

KAST Raises $10 Million: The Future of Stablecoin-Based Neobanks

user avatar

by Giorgi Kostiuk

a year ago


KAST, a financial technology platform built on stablecoins, has raised $10 million in seed funding to develop neobank services. The funding round is led by HSG and Peak XV Partners, and includes contributions from notable angels.

KAST Funding and Development

KAST, a platform for digital financial services, has secured $10 million to advance its stablecoin-based solutions. Participants in the funding round include companies like HSG and Peak XV Partners, along with notable angels and partners from DST Global and Goodwater Capital.

For most countries and over half of global GDP, banking does not match the openness and speed of the Internet. Stablecoins are the clear solution, but the user experience wasn’t great. We are building KAST to change this.Raagulan Pathy, KAST Co-Founder

Advantages of Stablecoins for Global Users

KAST offers payment cards and USD-denominated accounts to people in over 150 countries, enabling them to send and receive funds while collaborating with partners such as Bridge. The platform also plans to introduce savings and other remittance products. The maturing regulation of stablecoins facilitates their integration with traditional financial networks, providing users with faster and safer transactions.

The next generation of neobanks will be built on stablecoins and inherently global by DNA. They will differ fundamentally from the current generation of neobanks which are limited in countries due to licensing, and struggle in integrating blockchain.Daniel Bertoli, KAST Co-Founder

Future of Stablecoins and User Stability

Stablecoins have exhibited significant growth, with $170 billion in supply and $8.5 trillion in transaction volume. Analysts predict that by 2030, user numbers will exceed 1 billion, with supply surpassing $1 trillion. KAST’s USD-denominated accounts offer access to new economic opportunities, facilitating international transactions.

KAST delivers real benefits to global users. Their USD-denominated accounts offer protection for income when local currencies decline. More digital nomads can now bypass the hassle of legacy systems, as international transfers are now seamless and cost-free.Alex Svanevik, CEO of Nansen.ai

KAST continues to draw global user attention by offering innovative stablecoin-based solutions, significantly adapting modern financial services to swift and secure interactions.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Ethereum Foundation Introduces zkEVM Proof-Based Validation Strategy

chest

The Ethereum Foundation has released a detailed plan to implement zkEVM proofs for block validation on Ethereum's main chain, aiming to enhance efficiency and security.

user avatarLi Weicheng

Bipartisan Congressional Delegation Visits Denmark to Support Greenland

chest

A bipartisan group of U.S. lawmakers visits Denmark to express support for Greenland amid Trump's acquisition efforts.

user avatarAisha Farooq

US Treasury Delays $4 Billion Debt Buyback Due to Technical Issues

chest

The US Treasury has delayed its planned buyback of $4 billion in debt due to a technical issue, with a new date to be announced on January 16.

user avatarBayarjavkhlan Ganbaatar

Elliott Wave Analysis Indicates Bullish Momentum for XRP

chest

Elliott Wave analysis suggests bullish momentum for XRP as it completes its initial impulsive phase and enters a corrective phase, indicating potential for further upward movement.

user avatarAisha Farooq

Blockchain Solutions for Treasury Operations Under Scrutiny After Buyback Delay

chest

The recent postponement of the US Treasury's $4 billion debt buyback has sparked renewed debate about the potential of blockchain technology to enhance financial operations.

user avatarTenzin Dorje

Aster's Futures Trading Launch Sparks Increased Market Activity

chest

Aster's launch of perpetual futures trading on Binance Wallet has led to a significant increase in market activity, with futures volume up by 46% and open interest up by 215%, indicating renewed investor confidence.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.