KAST

KAST is a stablecoin-powered global neobank that lets users hold, earn, and spend digital dollars anywhere in the world — across 170+ countries and 150 million merchants — using Visa cards backed by USDC and USDT on Solana.

What KAST Does

KAST describes itself as "the global money app powered by stablecoins," and that framing is precise. Rather than converting crypto to fiat at point of sale, KAST builds the entire financial stack around stablecoins: accounts denominate in digital dollars, yield is earned in stablecoins, and spending happens via Visa rails without a traditional bank intermediary. The pitch targets freelancers, remote workers, global earners, and anyone who receives income in dollars but lives outside the US banking system.

Founded in 2023 and headquartered in Seychelles with operations in Singapore and Hong Kong, KAST is led by CEO Raagulan Pathy, a former Circle executive. The company launched its card product in late 2024, and as of early 2026 has surpassed one million users and approximately $5 billion in annualized transaction volume, with revenue and user numbers growing 15–20% month-on-month.

How It Works

KAST is not a bank. It partners with licensed, regulated institutions to deliver payment, card, custody, and conversion services. Users open an account through the KAST app, complete KYC verification, and receive US and EU virtual bank account details (ACH, SEPA, wire) that they can use to receive salary or client payments. Funds sit as stablecoins — primarily USDC and USDT — within the platform.

From there, users can:

• Spend via a Visa card at 150M+ merchants in 170+ countries, or withdraw at ATMs
• Earn yield through risk-adjusted vaults, up to 7% APY, via a partnership with Gauntlet (the institutional DeFi risk manager)
• Transfer in dollars, local currencies, or crypto at any hour, with no hidden fees
• Receive local currency payouts in an expanding set of markets including Latin America, Australia, and Southeast Asia

Custody and security are handled at the institutional level: Fireblocks and BitGo provide multi-layer key management and continuous threat monitoring.

Membership Tiers

KAST operates a tiered membership model that determines cashback rates and access to premium card products:

• Standard (free): 1.5% cashback, Visa Platinum
• Premium ($1,000/year): 2% cashback, Visa Infinite, plus 1% KAST Points on spending
• Private ($10,000/year): 3% cashback, Visa Infinite, plus 2% KAST Points on spending

KAST also issues premium physical cards including a 24k gold-plated option for top-tier members and, through a partnership with Pudgy Penguins, a branded "Pengu Card" with exclusive perks.

Solana Integration

Solana is the underlying infrastructure for KAST's stablecoin operations. USDC and USDT settlement runs on Solana, chosen for its throughput and low transaction costs. Beyond settlement rails, KAST has built a native presence in the Solana ecosystem through its own validator.

The KAST Validator — powered by infrastructure provider KILN — runs with 0% commission and 100% MEV kickback returned to stakers. Users holding a Solana-branded KAST card can connect their Phantom or Solflare wallet, stake SOL with the KAST Validator, and receive boosted staking APY tied to their card tier:

• Standard Solana Card (free): 0.875% APY + 0.125x KAST Points per staked SOL
• Solana Illuma ($1,000/year): 1.75% APY + 0.25x KAST Points per staked SOL
• Solana Gold ($10,000/year): 3.5% APY + 0.5x KAST Points per staked SOL
• Solana Solid Gold (invite-only): 3.5% APY, matching Gold tier

Staking rewards distribute every Solana epoch (approximately every two days) and compound automatically. This structure gives SOL holders a direct financial incentive to engage with the KAST product, while giving KAST a delegation-based validator revenue stream. The Solana card promotion is organized by "seasons," with Season 6 active as of mid-2026.

KAST Points and Token

KAST operates a loyalty points system, with KAST Points earned on card spending and staking at rates that increase with membership tier. The company has signaled plans to eventually convert points to a native token, but as of mid-2026 the token has not launched and the points program continues to accrue.

Funding and Growth

KAST raised a $10 million seed round in December 2024 led by Peak XV Partners and HongShan. In March 2026, the company closed an $80 million Series A at a $600 million valuation, co-led by QED Investors and Left Lane Capital, with continued participation from Peak XV, HSG, and DST Global Partners. The company employs over 250 people across engineering, compliance, and operations.

The Series A press release cited stablecoins moving more than $35 trillion in transactions the prior year, with only about 1% representing real-world payments — the market gap KAST is built to close. Capital is earmarked for expansion into North America, Latin America, and the Middle East, alongside a planned KAST Business product for cross-border payroll and payouts.

Third-party recognition has followed: Stripe mentioned KAST in its 2025 annual letter, and the platform received Best Digital Asset Neobank recognition from CoinGape and Best Digital Assets Fintech from BeInCrypto.

Ecosystem Fit

KAST represents a relatively rare category in Solana's ecosystem: a consumer fintech product with meaningful user scale that uses the chain as genuine payment infrastructure rather than as a speculative venue. Its validator adds to Solana's decentralization and active stake distribution, while its stablecoin-denominated accounts and card product give everyday users a practical reason to hold assets on Solana rails. For Solana's broader thesis around stablecoin adoption and real-world payments, KAST is one of the more direct expressions of that use case in production.