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Olá pessoal!
Raagulan Pathy is CEO and founder of KAST, the stablecoin neobank has been spreading like wildfire since launching 14 months ago, particularly in emerging markets like Brazil and Latin America.
Raags is known across the industry as “The Stablecoin Guy” dating back to his previous role leading Circle’s Asia operations, and he joins to shares insights into building a truly global banking alternative for the crypto-native generation.
KAST represents a fundamental shift in how we think about digital banking infrastructure. Rather than simply offering another crypto card or wallet, the platform provides a comprehensive bank-like experience that bridges traditional finance with decentralized assets. Users can deposit stablecoins across multiple chains, earn yield on their holdings, and spend globally through integrated card services.
Key Market Insights
Exceptional user engagement metrics: KAST has achieved 500,000 app downloads with 64% weekly active users and 30% daily active users, demonstrating strong product-market fit in the neobanking space
Rapid growth trajectory: The platform processes over US$20 million in monthly volume while maintaining 20% month-over-month growth, suggesting sustainable scaling momentum
Strategic market positioning: Latin America represents 30% of KAST’s global business, with Brazil emerging as a particularly strong market due to demand for global banking alternatives
Four distinct customer segments: The platform serves crypto natives, stablecoin-first users from the Global South, remote workers, and mobile affluent individuals who operate across multiple jurisdictions
Raags’ perspective on the stablecoin ecosystem challenges conventional wisdom about where value creation occurs. While many focus on building new stablecoin protocols, he argues the real opportunity lies in creating usable infrastructure on top of existing stablecoin rails.
This insight reflects a broader maturation as the industry advances from pure infrastructure development toward consumer-focused applications.
The conversation also reveals important dynamics in Latin American crypto adoption, where stablecoins serve not just as remittance tools but as premium financial products for upwardly mobile consumers seeking global banking alternatives. This represents a significant market opportunity that extends well beyond traditional financial inclusion narratives.
I really enjoyed this fascinating conversation and I hope you do as well.
You can connect with Raags on Linkedin
Have a great week everyone,
-AWS
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