Kast launches stablecoin-powered business platform after $80M raise
Kast has launched KAST Business, a stablecoin-based platform for companies that combines business accounts, payment cards, cross-border transfers, and yield-bearing balances. Businesses can receive funds through fiat virtual accounts from regulated partners, deposit supported stablecoins and crypto, issue virtual cards, and make local payouts in more than 20 currencies. The service is available in more than 170 countries, subject to jurisdictional limits. The platform offers up to 8% annual yield on idle balances, which Kast says comes from short-term US Treasurys and stablecoin yield, plus up to 3% cashback on purchases. Kast is a fintech company, not a bank, and regulated services are handled by licensed partners. The launch follows an $80 million funding round at a reported $600 million valuation. Kast plans to use the capital to build products, obtain licenses, and expand in North America, Latin America, and the Middle East. The company says it has more than 1 million users and aims to onboard 1,000 to 5,000 active businesses by end-2026.
