Kast Unveils Stablecoin-Powered Business Platform After $80M Raise

Kast, a financial technology company, has launched its KAST Business platform after raising $80 million in funding at a reported $600 million valuation. The platform combines business accounts, payment cards, cross-border transfers, and yield-bearing balances on stablecoin rails.

The KAST Business platform 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 company serves over 170 countries, with availability varying by jurisdiction.

Kast claims its platform offers up to 8% annual percentage yield on idle balances, generated through short-term US Treasurys and stablecoin yield, alongside up to 3% cashback on purchases. Kast is not a bank but a financial technology company that provides regulated services through licensed partner institutions.

The launch follows the $80 million funding round in March and Kast's aim to onboard between 1,000 and 5,000 active businesses by the end of 2026. The company has hired former US Securities and Exchange Commission adviser Stephanie Allen to lead policy communications as it prepares for further growth.