Kast Debuts Stablecoin-Powered Business Platform with $80M Boost

Kast has launched a business platform that utilizes stablecoins to provide various financial services. The company, which raised $80 million, aims to onboard between 1,000 and 5,000 active businesses by the end of 2026.

The KAST Business platform combines business accounts, payment cards, cross-border transfers, and yield-bearing balances on stablecoin rails. It allows companies to 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.

The platform offers up to an 8% annual percentage yield on idle balances, which Kast says is generated through short-term US Treasurys and stablecoin yield. Additionally, it provides up to a 3% cashback on purchases.