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KAST secures US$10 million seed round

KAST secures US$10 million seed round led by HSG (HongShan Capital Goup) and Peak XV Partners
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From Left: Co-founders of KAST - Daniel Bertoli, Raagulan Pathy

Cayman Islands, 11 December 2024 – 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.

“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”, said Raagulan Pathy, co-founder of KAST. Pathy was formerly VP for Asia Pacific & CEO for Singapore at Circle, which issues the USDC stablecoin.

KAST offers payment-cards and USD-denominated accounts to people in over 150 countries, the ability to receive and send cash, working with partners such as Bridge. The company will soon launch savings and other remittance products — all without the need to touch 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. KAST highlighted use cases such as holding USD stablecoins as an alternative to volatile currencies, enabling people to buy imports and travel with a card, and allowing remote workers globally to get paid.

“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; their core systems and capabilities are just too different,” commented Daniel Bertoli, co-founder of KAST and former Partner at Quona Capital, a global fintech fund that focuses on investments in neobanks.

KAST closed a US$10 million seed round at a significant undisclosed valuation. The founders stated user growth and revenue in the first four months have been “beyond even the highest expectation, showing the near-unlimited pent-up demand globally. 

Stablecoins have experienced remarkable growth with over US$170 billion in supply, and US$8.5 trillion transaction volume in Q2 2024 by over 125 million users. Analysts predict by 2030; user numbers will exceed 1 billion and supply will surpass US$1 trillion.

“KAST delivers real benefits to global users. Their USD-denominated accounts provide a safe haven for hard-earned income when local currencies decline, especially for those without access to traditional US accounts. As more digital nomads receive salaries in stablecoins, they can now bypass the hassle of legacy rails. International transfers that once took weeks can now be completed instantly and at virtually no cost,” said Alex Svanevik, CEO and co-founder of Nansen.ai, an early investor in KAST.

Disclaimer: This content is for general informational purposes only and does not constitute investment, legal, tax, or financial advice. Digital assets involve high risk and may result in total loss. Please do your own research and consult professional advisors before making any decisions. Read full disclaimer here.

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KAST Adds In-App Affiliate Sign-Up and Portal Access

You’ve probably talked about KAST without even thinking about it. Maybe someone asked how you receive USD from abroad. Maybe they were curious how you actually spend stablecoins in daily life. Maybe you dropped your referral link in a group chat and moved on.But you never really know what happens next.Now you can turn those casual conversations into something structured and measurable — without creating a separate account or searching for signup pages. You can apply to the KAST Affiliate Program directly inside the app.There are no extra logins, no separate platforms to manage, and no added friction. It starts exactly where you already are.Why Apply Inside The App?Most affiliate programs sit outside the product experience. You usually have to search for the right signup page, create a separate login, manually connect your referral code, and then switch between different dashboards just to keep track of everything. It often feels disconnected from the product you’re actually using.With KAST, the process starts inside the app. You simply go to Home → Refer → Become an Affiliate.Because it’s built into your existing account, your email stays aligned, your referral code remains the same, and your identity is already verified. There’s no need to recreate information or manage a separate profile.Keeping everything in one place reduces friction, minimizes back-and-forth during review, and makes the whole process more straightforward.How The Application Process WorksStep 1: Apply From The AppOpen your KAST app and go to:Home → Refer → Become an AffiliateThen:Tap ReferTap Become an Affiliate (top corner)The application form opens in your browser.It’s short and focused. You’ll be asked for:Your affiliate code (from the app)Name, phone number, and KAST emailPrevious affiliate experience (if any)Optional links (Telegram, LinkedIn, etc.)Your main channels and audience countriesA short note about how you plan to promote KASTSubmit the form. That’s it.Step 2: Get Access To The PortalAfter internal review, approved applicants receive access to the Affiliate Portal.From there, you can:Track referrals in real timeMonitor rewardsSee which content drives resultsOptimize how you promote KASTYou don’t need to change how you share. You just gain visibility into performance.See what actually drives sign-upsImagine you run a Telegram group about digital payments and crypto tools.Members often ask:How do you receive USD from clients?How do you spend stablecoins locally?How does the KAST Card work in daily life?You’ve been sharing your referral link casually. Some people sign up — but you don’t know how many, or why.After applying through the app and getting approved, that changes.Now you can see:Which posts generate sign-upsWhich use cases resonate mostWhether your audience responds more to the KAST Card or Local PayoutsInstead of guessing, you have data.Instead of casually sharing, you’re running something structured.How This Fits Into the KAST EcosystemMost affiliates promote what they already use. In practice, that means they talk about real things they do in KAST. For example, they receive USD into their KAST Global USD account, hold stablecoins like USDC, and spend globally with the KAST Card. They also use local payouts to convert funds into local currency when they need to.When your content reflects real usage, referrals feel natural. You are not pushing a product. Instead, you are showing how you use KAST in daily life. People understand the value because they see it in context.The Affiliate Program simply adds tracking and structure to what you already do inside KAST.What It CostsThere is no fee to apply.If approved, commissions and rewards are visible inside the Affiliate Portal.Eligibility criteria, reward structures, and approval timelines may change and are subject to internal review.Quick Checklist Before You ApplyYou actively use KASTYou have an audience (community, social media, newsletter, etc.)You can explain real use cases clearlyYou’re willing to promote responsiblyIf that sounds like you, the process takes just a few minutes.Ready To Apply?Open the KAST app and go to:Home → Refer → Become an AffiliateOr learn more at:https://www.kast.xyz/affiliateStart in the app.Apply in minutes.Track everything in one place.
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