Stablecoin Neobank KAST Secures $10M Seed Funding

• 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