How KAST is Democratising Global Finance

I recently sat down with Raagulan Pathy (or Raags as he is informally known) to discuss his journey from managing data centres to disrupting global finance. Raags turns on the webcam from his clifftop apartment in Burleigh Heads, QLD. Inside a spectacular, white-washed living room, giant panoramic glass windows reveal a spectacular golden sand beach and the Pacific Ocean behind him.

With a career spanning infrastructure, cloud computing, enterprise technology, and now fin-tech, we discuss Raag’s journey to founding KAST - a revolutionary stablecoin platform, the importance of in timing, persistence, and strategic career moves.

I hope you enjoy reading our interview.

James: Your early career shows a lot of variety, 10 different roles in 10 years. Was this intentional?

Raagulan: "It was actually very strategic," Raags explains. "I was contracting to multiple firms because it was lucrative at the time being a young man. The other benefit was that it exposed me to various aspects of technology and finance, from data centre infrastructure to enterprise systems."

James: Let's talk about OnShop a platform for small businesses to find customers and sell products online that you started back in 2009. You're remarkably candid about its challenges and ultimately why it didn’t pan out.

Raagulan: Raags nods, "OnShop taught me that timing is everything. We built a platform for SMEs in Asia to develop their online presence, but we launched right at the crossroads of the smartphone revolution. We were building for desktop when the world was moving mobile. That lesson about technological shifts has stayed with me throughout my career."

James: How did this experience influence your next venture, Lazu?

Raagulan: "With Lazu, we saw the opportunity in cloud and built an Enterprise Hybrid Cloud Platform. We bootstrapped and scaled from 0 to 70 people within three years. The business was successful, but being capital intensive, we ultimately made the decision to exit through a sale. Another valuable lesson in timing and market dynamics."

James: You then took an interesting path through some of tech's biggest names - AWS, Facebook, Zoom, Circle. Was this a deliberate strategy?

Raagulan: "Absolutely. When I joined AWS in 2013, - I was one of just two people in Enterprise Business Development. It took 2-3 years to get it going, but we built something remarkable.

Some of these early career choices often involved taking initial pay cuts for greater opportunity compared to my peers that were going to more established tech firms at the time.

At both Facebook and Zoom, I took pay cuts to join. I always tell people to look at forward movement, not just dollars. When I reached out to Zoom's CEO in 2018, clients were just starting to buzz about video communications. Then the pandemic hit, and we saw unprecedented growth."

James: This brings us to KAST. In a nutshell, what problem are you solving?

Raagulan: "Most of the world trades in US dollars - we're talking about 150 countries - but they lack reliable access," Raag explains. "Meanwhile, the internet has made remote work and global trade accessible to everyone. Stablecoins bridge this gap but getting in and out was always a problem. With improving legislation and more banks allowing on and off points, the timing feels right."

James: How is KAST different from existing fintech solutions?

Raagulan: "While companies like Revolut operate in 42 countries, 30 of those are in Europe. We're truly global, with a focus on both developed and developing countries where the need is arguably greater. We're not trying to be a crypto exchange - we're building a platform that allows users to save and spend in over 100 countries at a fraction of the traditional cost."

James: “How fast are is KAST growing if you can share that information?”

“The platform is seeing remarkable traction, already exceeding 8-figure months, with the team already at 40 full-time employees, half of whom are engineers, and transaction volumes growing rapidly. The current offering includes card services supporting USDC and USDT, with savings features in development.

James: What's your view on the broader crypto landscape?

Raagulan: "While KAST focuses on practical financial solutions using stablecoins, I maintain a broader perspective through our hedge fund JaffCap. We focus on promising projects outside the top 5, with significant thesis holdings in emerging platforms like SUI, APTOS, ETHENA, and WIF."

James: When will KAST become available for Australian customers?

Raagulan: “We’re aiming for Q1 2025”

James: Thanks for your time, Raag, great to catch-up.