Kast Launches Business Platform With Stablecoin Payments and Yield-Bearing Balances

Stablecoin payments company Kast has launched KAST Business, a platform that combines business accounts, payment cards, cross-border transfers and yield-bearing balances on stablecoin rails. The company said the service lets businesses receive funds through fiat virtual accounts provided by regulated partners, deposit supported stablecoins and crypto, issue virtual cards and make local payouts in more than 20 currencies. Kast said the platform serves more than 170 countries, although availability varies by jurisdiction. According to Cointelegraph, the offering also includes up to 8% annual percentage yield on idle balances, which Kast said is generated through short-term US Treasurys and stablecoin yield, as well as up to 3% cashback on purchases. Kast said it is a financial technology company rather than a bank, with regulated services delivered through licensed partner institutions. The launch follows Kast’s $80 million raise in March at a reported $600 million valuation. The company said it planned to use the funding to develop products, secure licenses and expand across North America, Latin America and the Middle East. Kast later hired former US Securities and Exchange Commission adviser Stephanie Allen to lead policy communications as it prepared the business-platform rollout. The company said it has more than 1 million users and aims to onboard between 1,000 and 5,000 active businesses by the end of 2026.