• 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

The Rise of Staking Crypto: Understanding Opportunities

chest

Investors are increasingly exploring staking crypto for passive income, but not all opportunities are sustainable.

user avatarRajesh Kumar

Noomez NNZ: A Model for Sustainable Staking

chest

Noomez NNZ offers a transparent and audited staking system with deflationary tokenomics.

user avatarGustavo Mendoza

Foreign Exchange Fluctuations Expected to Influence Crypto Markets

chest

Foreign exchange fluctuations on November 11 are expected to influence cryptocurrency activities, particularly stablecoin volumes and DeFi market dynamics.

user avatarLuis Flores

Binance CEO Stresses Innovation as a Buffer Against Market Volatility

chest

Binance CEO Richard Teng emphasizes the company's commitment to innovation and high standards as a strategic response to financial volatility.

user avatarArif Mukhtar

Uniswap Proposes Fee Switch Activation to Strengthen Ecosystem

chest

On November 11, Devin Walsh, the Executive Director of Uniswap Foundation, proposed activating the protocol's fee switch to strengthen ecosystem incentives in response to macroeconomic shifts affecting the DeFi landscape.

user avatarMiguel Rodriguez

XRP's Deflationary Mechanism Strengthened by Increased Burn Rate

chest

The increase in XRP's burn rate reinforces its deflationary model, contributing to the asset's scarcity and long-term value stability.

user avatarDavid Robinson

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.