The Good Tech Companies - KAST Secures US$10 Million Seed Round Led By HSG (HongShan Capital Group) And Peak XV Partners

Episode Date: December 12, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/kast-secures-us$10-million-seed-round-led-by-hsg-hongshan-capital-group-and-peak-xv-partners. . The round is led by HSG (HongShan Capital Group) and Peak XV Partners. A number of high-profile angels, partners of DST Global, and Goodwater Capital also joi Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #kast, #chainwire, #press-release, #kast-announcement, #stablecoin, #blockchain-development, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. KAST offers payment cards and USD-denominated accounts to people in over 150 countries. KAST will soon launch savings and other remittance products. The company has demonstrated strong early traction in terms of user adoption and revenue.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. CAST secures 10 million United States dollars seed round led by HSG, Hongshan Capital Group, and Peak 15 Partners, by Chainwire. Cayman Islands, Georgetown, December 12, 2024, Chainwire, CAST a financial technology platform built on stablecoins to deliver a neobank-style experience, has raised 10 million United States dollars in seed funding. The round is led by HSG, Hongshan Capital Group, and Peak 15 Partners. A number of high-profile angels, partners of DST Global, and Goodwater Capital also joined the round. Greater than, for most countries in over half of global GDP,

banking does not match the greater- than openness and speed of the internet, it's fundamentally broken. Stablecoins are greater than the clear solution, but the user experience wasn't great. We are building cast greater than to change this, adds Ragulan Pathi, KAST's co-founder. Pathi is a stablecoin expert, formerly the VP for Asia Pacific and CEO for Singapore at Circle, best known for USDC. CAST offers payment cards and USD-denominated accounts to people in over 150 countries, the ability to receive and send cash, and working with partners such as Bridge, recently acquired by Stripe. CAST will soon launch savings and other remittance products,

all without the need to touch fiat directly. The maturing of stablecoin regulation and acceptance has led to rapid integration with traditional finance networks, enabling users to send money faster, cheaper, and more securely. CAST highlighted use cases such as holding USD stablecoins as an alternative to volatile currencies, enabling people to buy imports and travel with a card, and allowing remote workers globally to get paid. Greater than, the next generation of neobanks will be built on stablecoins and inherently greater than global by DNA. They will differ fundamentally from the current generation of greater than neobanks, which are limited in countries due to licensing, and struggle in

greater than integrating blockchain. Their core systems and capabilities are just too greater than different comments daniel bertoli co-founder of cast and former partner at kona capital a global fintech fund that focuses on investments in neobanks cast has completed a 10 million seed funding round at an undisclosed valuation. Within its first four months, the company has demonstrated strong early traction in terms of user adoption and revenue. The team views this as a reflection of significant global interest in its platform. Stablecoins have experienced remarkable growth with over 170 billion USD in supply and 8 USD.5 trillion transaction volume in Q2 2024

by over 125 million users. Analysts predict by 2030, user numbers will exceed 1 billion and supply will surpass 1 trillion United States dollars. Greater than, CAST delivers real benefits to global users. Their USD-denominated accounts greater than provide a safe haven for hard-earned income when local currencies decline, greater than especially for those without access to traditional US accounts. As more greater-than-digital nomads receive salaries in stablecoins, they can now bypass the hassle greater-than-of legacy rails. International transfers that once took weeks can now be greater-than-compl completed instantly and at virtually no cost, said Alex Svanovic greater than, CEO, co-founder of Nansen. I, an early investor in Cast. Users can visit the Cast website to learn more about Cast and

discover how their innovative offerings can transform financial experience. Testimonials from card users. I spent two weeks at the bank trying to open a simple savings account. They asked for more than 10 documents, approximately 100 papers, and had to sign and stamp each of them. And I opened a crypto card at cast underscore official in literally two minutes. Why would anyone go after traditional cards anymore? If I don't need my bank statements for embassies, I would always use crypto cards like at cast underscore official, mardeni, twitter. One tap to solve all my issues. That's all it took when I got my KAST card. Here's a quick recap, I've been traveling a

lot lately, and exchanging money has always been a hassle. You usually end up losing 5-8% in the process by the time the cash is in your hand. A friend of mine sent me a link and said, give this a try. Fast forward 2 months, and I've been tapping away quite a lot. Thanks to atcast underscore official. I've used it across 5 countries over the last couple of months without any issues. It's made international spending and crypto usage incredibly simple, alphabets, twitter, I just used my at cast underscore official card to pay for my project's domain name and it worked seamlessly all I had to do was fund it with Solana USDC, thesis actually a game changer for me and any other thing I'll want to do with it, Alex, twitter, about KASTKAST is transforming the

financial technology landscape by offering a seamless blend of stablecoin technology with traditional payment means. The CAST platform enables USD accounts globally to 150-plus countries, reaching over 5 billion people offering a solution where banking falls short. The silky-smooth user experience is taking mainstream the openness, speed and security of stablecoins. C Cast enables users to send, receive, save, and spend funds across borders efficiently. For more information, users can visit www.cast.com. Tip this story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story,

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