Stablecoin Payments Firm KAST Raises $80 Million in Funding

KAST, a stablecoin payments firm, has raised $80 million in its latest funding round, as venture capitalists continue to pour money into startups offering digital-dollar accounts.

The early-stage fundraising valued the company at $600 million, according to people familiar with the matter. KAST expects its annual revenue run rate to rise to $100 million this year, according to the people, who asked not to be identified to discuss confidential information.