KAST

KAST is a Singapore-based fintech platform that converts stablecoins into everyday spendable money, using Solana as its primary blockchain infrastructure. Rather than treating crypto as a speculative asset, KAST positions stablecoins — primarily USDC, USDT, and PayPal's PYUSD — as a practical global currency layer: hold digital dollars anywhere, move them across borders instantly, earn yield on idle balances, and spend them at any merchant that accepts Visa.

The Problem KAST Addresses

Traditional cross-border banking is expensive and exclusionary. Wire fees, foreign exchange markups, and restricted account access leave freelancers, remote workers, and internationally mobile consumers underserved. Stablecoins solve the settlement layer problem — they move at near-zero cost in seconds — but converting them into usable spending money has historically required multiple steps and intermediaries. KAST collapses that gap into a single app.

How It Works

KAST operates on Solana as its core transaction rail. When a user deposits funds, they send USDC, USDT, or PYUSD directly over the Solana network. Users can also deposit SOL, ETH, or BTC, which the platform converts to USDC for spending. From there, four integrated services handle everything:

• Store — Virtual US (ACH) and EU (SEPA) account numbers let users receive income globally as though they hold local bank accounts in those regions.
• Earn — Idle stablecoin balances generate up to 7% APY through risk-adjusted yield vaults powered by Gauntlet, a quantitative risk management firm that optimizes deployments across DeFi protocols.
• Move — Users transfer funds to 170+ countries around the clock using KAST Tags (a username-based routing system) or standard on-chain transfers, with no hidden fees.
• Spend — Visa cards, both virtual and physical, work at 150 million merchants worldwide. Real USD cashback — not reward points — is credited directly to the account balance.

Custody of user assets sits with Fireblocks and BitGo, two institutional-grade custodians regulated in multiple jurisdictions. KAST is explicit that it is a financial technology company, not a bank, and user balances are not FDIC-insured.

Card Tiers and Cashback

KAST offers three membership tiers with increasing benefits:

Standard (free): A Visa Platinum card with 1.5% cashback on all purchases. This tier includes virtual card access immediately upon completing KYC verification — a process KAST describes as taking approximately three minutes using a government-issued ID.

Premium (approximately $1,000 per year): A Visa Infinite card with 2% cashback plus 1% KAST Points, which can be redeemed for additional rewards. Foreign exchange fees are reduced compared to the Standard tier.

Private (approximately $10,000 per year): A Visa Infinite card with 3% cashback plus 2% KAST Points, the lowest FX fees, and dedicated concierge services. Users in this tier also receive an all-metal physical card.

Cashback is uncapped — there is no monthly spending limit on rewards — and is paid as spendable dollars rather than locked points. KAST has also run promotional cashback campaigns of up to 8% on travel bookings and partnership activations.

Solana Integration and Ecosystem Presence

KAST built natively on Solana rather than treating it as one chain among many. Solana's transaction throughput and low fees make it practical as a payments rail at consumer scale — the platform cites Solana's position as the leading chain by stablecoin transfer volume as central to its infrastructure decision.

The Solana-branded physical card launched in 2025, letting users order a card themed around the Solana ecosystem directly from the app. KAST supports USDC, USDT, and PYUSD deposits over the Solana network specifically. The official Solana X account endorsed KAST in September 2024 as "the card that lets you spend stablecoins across borders on Solana."

KAST also runs its own Solana validator with zero commission and full MEV kickback routing, offering users up to 3.5% APY on staked SOL. This makes KAST simultaneously a spending product and a staking provider within the Solana ecosystem.

KAST partnered with Pudgy Penguins, a leading Solana NFT and consumer brand, to issue co-branded cards — an example of the platform's strategy to tap into existing Web3 communities as distribution channels. The company attends and sponsors Solana events including the Solana Summit.

Own Stablecoin: USDK

KAST has announced USDK, its own stablecoin issued in partnership with M0 Labs, launching exclusively on Solana. USDK is planned in two variants: a savings variant for earning yield and a payments variant optimized for spending and transfer. The stablecoin is intended to deepen KAST's ecosystem lock-in and give the platform more control over its monetary infrastructure.

Funding and Team

In March 2026, KAST raised an $80 million Series A at a reported valuation of approximately $600 million, less than 18 months after its debut. The round was co-led by QED Investors and Left Lane Capital, with participation from Peak XV Partners, HSG (HongShan Capital Group), and DST Global Partners. Prior to this, KAST raised a $10 million seed round in December 2024 led by HSG and Peak XV, with Goodwater Capital angels.

The company was co-founded by Raagulan Pathy (CEO), a former VP Asia-Pacific and Singapore CEO at Circle — the issuer of USDC — giving the founding team direct experience with the stablecoin infrastructure KAST is built on. Co-founder Daniel Bertoli brings fintech investment experience from Quona Capital, a global fund focused on neobank and payments businesses. The broader team includes veterans from Revolut, Stripe, Binance, Airwallex, Wise, and Phantom.

Former Stripe Bridge partnerships lead Connor Fitzgerald joined as U.S. General Manager, tasked with launching KAST Business and leading North American expansion. Sandeep Patil of QED Investors joined the company's board as part of the Series A.

At the time of the Series A, KAST reported over one million users and approximately $5 billion in annualized transaction volume, with revenue having doubled since the end of Q3 2025 and approaching a $100 million annual run rate.

Security and Custody

KAST uses Fireblocks and BitGo for institutional custody and security infrastructure. Cards carry Visa's standard zero-liability fraud protection. The platform requires biometric login, multi-factor authentication, and in-app card controls including instant freeze and unfreeze. KYC is required for all users.

No independent third-party smart contract audit has been publicly disclosed. KAST operates under the Singapore regulatory framework and works with licensed partner institutions to deliver payment and custody services.

Solana Ecosystem Fit

KAST occupies a distinct niche: it converts Solana's stablecoin speed and efficiency into a consumer spending product that works anywhere Visa is accepted. For Solana, KAST represents one of the clearest demonstrations that stablecoin infrastructure can reach mainstream consumer use cases — a product that lets anyone hold digital dollars, earn yield on a Solana validator, and spend globally without needing to understand the underlying blockchain mechanics.

The company's near-term roadmap focuses on geographic expansion into North America, Latin America, and the Middle East, alongside KAST Business for global team payroll in stablecoins, and the USDK stablecoin launch. These initiatives are all targeted at the Solana network as primary infrastructure.