• 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

ECB Advocates for Centralized Oversight of Crypto Markets

chest

The European Central Bank supports a proposal to centralize oversight of financial markets, including crypto, to enhance competitiveness and harmonize regulation across the EU.

user avatarLucas Weissmann

Blockchain for Europe Advocates for Reforms in EU Crypto Regulations

chest

Blockchain for Europe has released a report advocating for reforms to the EU's crypto framework to enhance the competitiveness of euro-denominated stablecoins.

user avatarFilippo Romano

Evan Tangeman Sentenced to Six Years for Bitcoin Scam Involvement

chest

Evan Tangeman has been sentenced to six years in prison for his involvement in a scam that stole over 263 million in Bitcoin.

user avatarEmily Carter

DOJ Seizes Over 700 Million in Bitcoin in Fight Against Crypto Scams

chest

The Department of Justice has seized over 700 million in Bitcoin linked to money laundering from crypto scams.

user avatarTomas Novak

Federal Judge Dismisses Lawsuit on Crypto Crowdfunding Tool

chest

A federal judge dismissed a lawsuit regarding the legal status of a cryptobased crowdfunding tool, raising questions about the government's stance on crypto regulation.

user avatarKaterina Papadopoulou

RLUSD Adoption Accelerates Under GENIUS Act

chest

The adoption of RLUSD is rapidly increasing following the implementation of the GENIUS Act, which provides a federal framework for stablecoins in the US.

user avatarMaya Lundqvist

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.