CosmicTaco

Stablecoin Neobank KAST Secures $10M Seed Funding

CosmicTaco · 2024-12-12T11:22:46.896444+05:30

- Peak XV and HongShan co-led a $10 million seed investment in KAST, a neobank-like platform for stablecoin transactions. - KAST allows users to hold and spend stablecoins via traditional payment methods, targeting emerging markets with high remittance costs. - The startup plans to expand its services, facing competition from both crypto-native firms and traditional fintechs entering the stablecoin market. Source: [Techcrunch](https://techcrunch.com/2024/12/11/kast-stablecoin-neobank-hongshan-peak-xv/)

Peak XV and HongShan co-led a $10 million seed investment in KAST, a neobank-like platform for stablecoin transactions.
KAST allows users to hold and spend stablecoins via traditional payment methods, targeting emerging markets with high remittance costs.
The startup plans to expand its services, facing competition from both crypto-native firms and traditional fintechs entering the stablecoin market.

Source: Techcrunch