Stablecoin payments company Kast has launched a platform that combines business accounts, payment cards, cross-border transfers, and yield-bearing balances built on stablecoin rails.
According to Kast, the newly introduced KAST Business platform allows companies to receive funds via fiat virtual accounts supplied by regulated partners, deposit supported stablecoins and cryptocurrencies, issue virtual cards, and execute local payouts in more than 20 currencies. The company reports that it serves over 170 countries, though availability is subject to jurisdictional variations.
The platform provides up to an 8% annual percentage yield on idle balances, which Kast states is generated through short-term US Treasurys and stablecoin yield. Additionally, the platform offers up to 3% cashback on purchases.
Kast operates as a financial technology company rather than a bank, with its regulated services delivered through licensed partner institutions.
The launch follows an $80 million fundraising round completed in March at a reported $600 million valuation. Kast previously stated that the capital would be allocated toward product development, securing licenses, and expanding operations across North America, Latin America, and the Middle East. Ahead of the platform's rollout, Kast hired former US Securities and Exchange Commission adviser Stephanie Allen to lead policy communications.
Kast reports having more than 1 million users and sets a target to onboard between 1,000 and 5,000 active businesses by the end of 2026.
