Kast launches stablecoin-based business platform after $80M funding round
Stablecoin payments company Kast has launched KAST Business, a platform that lets businesses use stablecoins—a type of cryptocurrency pegged to traditional assets like the US dollar—for accounts, payment cards, and cross-border money transfers.
The platform allows companies to receive funds through fiat virtual accounts, deposit supported stablecoins and cryptocurrencies, issue virtual cards, and make local payouts in over 20 currencies. Kast says it serves more than 170 countries, though availability depends on local regulations.
Platform features and incentives
KAST Business offers up to 8% annual yield on idle balances, generated through short-term US Treasury investments and stablecoin yield programs. Users can also earn up to 3% cashback on purchases. Kast is a financial technology company, not a bank, and relies on licensed partners for regulated services.
Funding and growth plans
In March, Kast raised $80 million at a reported $600 million valuation. The company said it would use the funds to develop products, obtain licenses, and expand in North America, Latin America, and the Middle East. It also hired Stephanie Allen, a former US Securities and Exchange Commission adviser, to lead policy communications ahead of the platform’s launch.
Kast reports over 1 million users and aims to onboard between 1,000 and 5,000 active businesses by the end of 2026.
