KAST

KAST is a stablecoin money app with a Visa card. It is not the Valorant stat or the Chilean politician. You hold US dollars as stablecoins, mostly on Solana, and spend them anywhere Visa works. The app also gives you US and EU account numbers, sends money worldwide and pays rewards. KAST says it is "a financial technology company, not a bank". Licensed partners run the accounts, cards and custody.

Raagulan Pathy, who used to run Circle's business in Asia, founded KAST in July 2024. In March 2026 it raised an $80 million Series A at a reported $600 million value. It said then that it had over one million users.

How the KAST card and app work

You open an account, complete identity checks (KYC), and fund it. The cheapest way is to send USDC, USDT or PYUSD to your deposit address. Solana is the main chain for this. You can also deposit BTC, ETH or SOL, but KAST converts them to dollars on arrival. CryptoSlate's April 2026 review puts that conversion charge at 2-5%, against nothing for stablecoins.

Once funded, the balance works like a US dollar account:

• Spend: a virtual Visa card is ready as soon as KYC clears, and a physical card can be ordered. Card payments draw on the balance you already hold. There is no credit line.
• Receive: virtual US (ACH) and EU (SEPA) account details let employers and clients pay you as if you banked locally.
• Send: payouts go to bank accounts, mobile wallets or another user's KAST Tag (a username).
• Earn: idle dollars can sit in the USD Reserve Account or in KAST's Earn vaults (see below).

Behind the app, KAST uses its own stablecoins, built with M0. USDK is for payments and USDKy is the reward-bearing version for savings. M0 says both are live on Solana, and USDKy powers KAST's USD Prime vault.

KAST card fees, tiers and cashback limits

KAST has three membership tiers. The membership page lists these fees and rates:

Cashback is capped by monthly spend. KAST changed the program in May 2026, and Fintech News Singapore reported the new limits. Standard earns 1.5% on the first $2,000 of card spend each month, which is $30 at most. Premium earns 2% on up to $10,000, and Private earns 3% on up to $40,000. Older reviews that call KAST's cashback "uncapped" are out of date. Cashback is paid in US dollars and is meant to be spent with the card. Premium and Private cards add Visa Infinite perks such as airport lounges and travel insurance.

A Standard physical card costs $40 to ship. Independent reviews, including CryptoSlate's, list FX fees of 0.5-1.75% on non-USD spending. They give ATM fees of $3 plus 2% per withdrawal, with a $750 daily limit. Check the in-app fee schedule before relying on these, because KAST changes them.

KAST USD Reserve Account and Earn yield

On 20 August 2026 KAST launched the USD Reserve Account. It is a separate USD balance that pays rewards daily and can still be spent. The launch rates were Standard 8% with no cap, Premium up to 10% on the first $50,000, and Private up to 12% on the first $200,000. Balances above those limits earn 6%. They are promotional and last until 31 December 2026, or until Reserve deposits reach $100 million. The rates then fall to 4%, up to 6% and up to 8%.

KAST calls these payments cashback rewards, not interest, and they are discretionary. The company says it pays them from its own revenue and balance sheet and does not lend out customer balances. It also says the Reserve is "not insured, not risk-free" and that rates can change or end at any time.

Earn is a separate product. Its vaults include one curated by Gauntlet and the USD Prime vault built on USDKy. These use different mechanics from the Reserve. They also carry the risks of the strategies underneath, which the Reserve's balance-sheet model avoids.

Sending money abroad with KAST Tags and global payouts

KAST's global payouts send money to 170+ countries in 30+ currencies. Where a fast local system exists, such as PIX in Brazil or SPEI in Mexico, money usually lands in minutes. Wires take hours. A KAST Tag pays another user by username. A KAST Link is a one-time link the recipient can claim without an account, and the sender pays no fee. In September and October 2026, KAST blog posts promoted payouts in 30+ currencies and 0% FX card spending across Latin America.

KAST Business accounts for companies

KAST Business launched in September 2026. Companies get fiat virtual accounts, stablecoin deposits, virtual cards for staff and local payouts in 20+ currencies. It also offers up to 8% APY on idle balances from short-term US Treasurys and stablecoin yield, plus up to 3% cashback. KAST said it aimed to sign up 1,000-5,000 active businesses by the end of 2026. Its KAST Cloud guides show companies moving cloud bills, such as AWS, onto KAST cards.

KAST Solana card and the KAST validator

KAST sells co-branded cards, including a Solana card and a Pudgy Penguins PENGU$0.00720+0.7% card. KAST also runs its own Solana validator. Public dashboards list the KAST validator at 0% commission, and it charges 0% on MEV rewards, so stakers keep both. Our validator page shows its current stake and APY. In its Breakpoint 2025 keynote, KAST presented KAST Tag payments, business accounts and its savings yields.

Is KAST safe and legit?

KAST is a real company, with named investors and a public team. But real is not the same as safe like a bank. KAST holds your money, so you are trusting KAST and its partners.

• Custodial, not self-custody. KAST holds your balance. You hold no private keys, so you cannot withdraw on-chain if KAST freezes your account. Its about page names Gauntlet alongside BitGo, Fireblocks, Elliptic, Sumsub, Sardine and Immunefi as partners. CryptoSlate reports that USD balances sit with Lead Bank, but KAST itself says the funds are not FDIC-insured.
• Not a bank. Accounts, cards, custody and on/off-ramps come from licensed partners. KAST's own security guide names no insurance, proof of reserves or third-party audit. It relies on partners, MFA, biometrics and fraud monitoring.
• Account freezes. Trustpilot reviews and user threads report funds held during source-of-funds checks and accounts closed without appeal. This is common for crypto-to-fiat apps, but it is the main practical risk.
• Rewards can change. Both the cashback caps and the Reserve rates have changed or have end dates. Do not plan around today's rates.
• Restricted countries. CryptoSlate counted about 49 restricted countries, including Canada, Australia and Japan. The US is supported.

KAST is strengthening its compliance team. It hired former SEC adviser Stephanie Allen for policy communications. In October 2026 it appointed Claire Wells, who previously worked at Coinbase, Circle and Plaid, as Chief Legal Officer.

Who the KAST card is for

KAST suits people who hold stablecoins and want to use them like normal dollars. Think freelancers paid in USDC, people sending money home, and Solana users who want a card. The free tier works if you spend up to about $2,000 a month. Past that, cashback stops. Premium only pays off for heavy spenders, or for people who will use its perks.

KAST is a poor fit if you want to hold your own keys. It also fails you if you live in a blocked country. And if a frozen balance would hurt, keep savings elsewhere. Treat it as a spending account.

KAST vs RedotPay and Ether.fi: crypto card alternatives

• KAST vs RedotPay: both are custodial cards that spend stablecoins. RedotPay supports more chains and is not available in the US. KAST is US-friendly and leans on Solana and USD stablecoins.
• KAST vs Ether.fi Cash: Ether.fi's card spends from smart contracts rather than a custodial balance. It is self-custodial, but the cashback model and state restrictions are different.

If you only want SOL staking rewards, you do not need a card. You can stake directly with a validator, including Solana Compass's own validator. We run it, so treat that as an interested recommendation.

KAST funding, team and history

• July 2024: KAST is founded by Raagulan Pathy, formerly Circle's VP for Asia-Pacific.
• December 2024: $10 million seed round led by HSG and Peak XV.
• April 2025: M0 announces the USDK stablecoin build with KAST on Solana.
• March 2026: $80 million Series A co-led by QED Investors and Left Lane Capital, with Peak XV, HSG and DST Global. The release cited over one million users, nearly $5 billion in annualized volume, 250+ staff and a New York base. Revenue was expected to reach a $100 million run rate in 2026. QED's Sandeep Patil joined the board.
• May 2026: cashback moves to monthly spend caps.
• August 2026: former Stripe executive Connor Fitzgerald becomes US General Manager, and the USD Reserve Account launches.
• September 2026: KAST Business launches.
• October 2026: Claire Wells joins as Chief Legal Officer. KAST also ran a large marketing push at TOKEN2049 Singapore and Money20/20 in Las Vegas.