Stablecoin Payments Firm KAST Raises $80 Million in Funding (1)

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.

The funding will be used to fuel the company’s global expansion in key markets across North America, Latin America and the Middle East, as well as for hiring, licensing and ...