Kast, a stablecoin payments company valued at $600 million, has officially launched KAST Business, a business-focused platform that combines fiat accounts, stablecoin deposits, virtual cards, local currency payouts, and yield on idle balances.
The platform supports receiving money in more than 20 currencies and is available across over 170 countries, though access varies by jurisdiction and licensed financial partners. Businesses can fund accounts with supported stablecoins and other crypto assets, but Kast has not published a complete list of eligible tokens for every market.
Kast advertises returns of up to 8% APY on idle business balances and cashback of up to 3% on card spending. The yield is said to be powered by short-term U.S. Treasuries and stablecoin yield, but the company has not fully disclosed the underlying products, counterparties, fees, or conditions required for the maximum rate. Card cashback rates depend on membership level, transaction type, monthly spending limit, and location; foreign exchange fees can range from 0.5% to 1.75%.
Kast identifies as a fintech rather than a bank, with regulated account and payment services supplied through licensed partner institutions. Digital asset balances and investment products generally do not carry the same protections as insured bank deposits.
The launch follows Kast’s $80 million Series A funding round in March and its claimed 1 million users. The company plans to onboard between 1,000 and 5,000 active businesses by the end of 2026. Kast also recently appointed former SEC senior adviser Stephanie Allen as head of corporate and policy communications.
The U.S. regulatory environment remains a key factor: the GENIUS Act prevents payment stablecoin issuers from paying yield solely for holding tokens, but does not automatically resolve how a separate fintech platform may offer rewards through Treasury products or other investment arrangements.
Kast is not alone in targeting this niche. In July, Ramp launched business accounts allowing companies to hold USDC and USDT and settle payments in more than 40 local currencies across over 140 countries.
