Stablecoin payments startup KAST has raised $80 million from QED Investors and Left Lane Capital, bringing its valuation to roughly $600 million. The company is targeting an annual revenue run rate of around $100 million this year.

The capital will support global expansion, regulatory licensing and further development of its stablecoin payments platform.

KAST is building a platform designed for storing, earning and spending stablecoins, targeting the growing market for digital-dollar transactions.