Kast launched its stablecoin business platform after securing $80 million in financing

The stablecoin payment company Kast has launched the KAST Business platform, integrating features such as corporate accounts, payment cards, cross-border transfers, and stablecoin yield balances. The platform provides services through stablecoin infrastructure. Kast states that businesses can receive payments through fiat virtual accounts provided by regulated partners, deposit supported stablecoins and crypto assets, issue virtual cards, and make local payments in over 20 currencies.The platform services cover more than 170 countries and regions, but specific availability varies by jurisdiction. Idle balances earn an annual yield of up to 8%, and up to 3% cashback on spending is also offered. Kast is a fintech company rather than a bank, and regulated services are provided by licensed partner institutions. Kast completed a $80 million financing at a valuation of $600 million in March, which will be used for product development, licensing acquisition, and expansion into North America, Latin America, and the Middle East markets. The company claims to currently have over 1 million users and plans to attract 1,000 to 5,000 active businesses by the end of 2026.