# KAST

> KAST is a Singapore-associated stablecoin neobank for storing, sending and spending digital dollars via partner-issued Visa cards.

Source: https://www.neobank.wiki/kast
Last updated: 2026-08-16
Categories: Financial technology, Singapore neobanks, Singapore fintech, Global fintech, Partner-bank neobanks, Consumer neobanks, Cryptocurrency companies, Payment platforms, Companies founded in 2024

**KAST** is a financial technology company founded in 2024 that offers USD-denominated accounts, global payouts and partner-issued Visa cards on stablecoin rails (USDC, USDT, USDe). It markets a [neobank](/neobank)-style experience for people who live and earn across borders, while stating it is not a bank: virtual accounts, cards, custody and on/off-ramps are provided by licensed partners.[^kast1]

## 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.[^kast2]

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.[^kast3] Later 2026 press often describes KAST as Singapore-based.

## Founders

**Raagulan Pathy** is founder and chief executive officer of [KAST](/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](/revolut), [Wise](/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](/avici) or [ether.fi](/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](https://www.kast.xyz/)
- [X (@KASTxyz)](https://x.com/KASTxyz)

## Infobox

- **Type**: Private
- **Founded**: 2024
- **Founders**: Raagulan Pathy, Daniel Bertoli
- **Headquarters**: Singapore
- **Model**: Stablecoin neobank (partner rails)
- **Card**: Visa (partner-issued)
- **Website**: [kast.xyz](https://www.kast.xyz/)

## Frequently asked questions

### What is KAST?

KAST is a Singapore-associated stablecoin neobank for storing, sending and spending digital dollars via partner-issued Visa cards.

### When was KAST founded?

KAST was founded in 2024.

### Where is KAST headquartered?

KAST is headquartered in Singapore.

### Who founded KAST?

KAST was founded by Raagulan Pathy, Daniel Bertoli.

### What type of company is KAST?

KAST is described as Stablecoin neobank (partner rails) in its neobank.wiki profile.

### What is the official KAST website?

The official website for KAST is https://www.kast.xyz/.


## References

[^kast1]: KAST states it is a financial technology company, not a bank; cards, custody and ramps use licensed partners. - https://www.kast.xyz/
[^kast2]: KAST, "KAST secures US$10 million seed round" (11 December 2024). - https://www.kast.xyz/blog/kast-secures-us-10-million-seed-round
[^kast3]: KAST, "KAST Announces $80M Series A"; TechNode Global, "Singapore's KAST raises $80M in Series A" (March 2026). - https://www.kast.xyz/blog/kast-announces-80m-series-a