KAST

History

KAST launched in July 2024. Co-founders Raagulan Pathy (former Circle VP for Asia Pacific and CEO of Circle Singapore) and Daniel Bertoli (former partner at fintech investor Quona Capital) argued that the next wave of neobanks would be built on stablecoins rather than country-by-country bank cores. A US$10 million seed round announced from the Cayman Islands in December 2024 was led by HSG (HongShan) and Peak XV Partners, with Goodwater Capital and DST Global-linked angels participating.2

In March 2026 KAST raised US$80 million Series A co-led by QED Investors and Left Lane Capital, with Peak XV, HSG and DST Global Partners returning; Bloomberg-cited coverage put the valuation around US$600 million. The company said it had more than one million users, close to US$5 billion annualised transaction volume, and plans to expand in North America, Latin America and the Middle East plus launch KAST Business.3 Later 2026 press often describes KAST as Singapore-based.

Founders

Raagulan Pathy is founder and chief executive officer of KAST. After leading Circle's Asia-Pacific business he started KAST to put a consumer and business interface on stablecoins: hold digital dollars, get paid, and spend on a card without a local bank residency.

Daniel Bertoli is co-founder, a former Quona Capital partner who invested in emerging-market neobanks. He has argued that incumbent digital banks struggle to graft blockchain onto cores built for a single licence, while KAST is global by design. The wider leadership team has been recruited from Circle, Phantom, Revolut, Wise and similar firms.

Partner-rail model

KAST is custodial software on licensed partners: custody providers cited in coverage include BitGo and Fireblocks; cards and virtual accounts sit with regulated issuers. Users hold a claim on balances rather than self-custody keys, unlike Avici or ether.fi. KAST says it is not a bank and availability varies by jurisdiction.

Products

• Accounts - USD-denominated stablecoin balances with pay-in/pay-out to many countries (partners have included Bridge; rails such as SWIFT and PIX are advertised).
• KAST card - partner-issued Visa (tiered, including metal) for merchant and ATM spend; Apple Pay / Google Pay in supported markets.
• Earn / vaults - yield on stablecoin holdings in some products.
• KAST Business - business accounts announced as a 2026 expansion.
• Co-branded cards - including a Pengu card tied to the Pudgy Penguins / PENGU brand.

External links

• KAST official website
• X (@KASTxyz)