Kast unveils business platform powered by stablecoins following $80M funding round
The company has set a target of attracting 1,000 to 5,000 active business users to its newly launched platform before 2026 comes to a close.
A stablecoin payments firm known as Kast has unveiled a comprehensive platform that merges business banking accounts, payment card services, international money transfers, and interest-generating balances, all built on stablecoin infrastructure.
According to Kast, the newly released KAST Business platform enables enterprises to accept incoming funds via fiat virtual accounts supplied by regulated partner institutions, make deposits using supported stablecoins and cryptocurrency assets, generate virtual payment cards, and execute local disbursements across more than 20 different currencies. The firm stated that its services extend to over 170 countries worldwide, though specific features may differ depending on regional regulations and jurisdictions.
The platform provides up to 8% annual percentage yield on dormant account balances, which according to Kast is produced through investments in short-term US Treasurys combined with stablecoin yield opportunities, in addition to offering up to 3% cashback rewards on transaction purchases.
Kast operates as a financial technology company and not as a traditional banking institution, with all regulated financial services being delivered through licensed partner organizations.
This platform introduction follows Kast's successful completion of an $80 million funding round at a reported $600 million valuation that took place in March. According to the company, these funds would be allocated toward developing new products, obtaining necessary licenses, and extending operations throughout North America, Latin America and the Middle East regions.
Following the fundraising, Kast brought on board Stephanie Allen, a former adviser to the US Securities and Exchange Commission, to oversee policy communications in preparation for the business-platform launch.
The company reports having more than 1 million users on its platform and has established a goal to onboard between 1,000 and 5,000 active businesses by the end of 2026.