KAST

KAST is a financial technology platform that provides a neobank-style experience centered around stablecoins. Founded in 2024 by Daniel Bertoli and Raagulan Pathy, the company aims to bridge the gap between traditional finance and digital assets for a global user base. Pathy's background as the former VP for Asia Pacific & CEO for Singapore at Circle, the issuer of the USDC stablecoin, combined with Bertoli's experience as a former Partner at the global fintech fund Quona Capital, provides the firm with deep expertise in both stablecoins and neobanking.

The company's core mission is to simplify finances for global citizens by making it easy to save, send, and spend stablecoins without the typical bureaucracy of legacy banking. KAST targets individuals in over 150 countries, particularly those in emerging markets or anyone seeking an alternative to volatile local currencies and inefficient cross-border payment systems. The business model revolves around providing USD-denominated accounts and payment cards, with revenue generated through transaction fees and other financial services. In December 2024, KAST secured a significant milestone with a US$10 million seed funding round led by HSG (HongShan Capital Group) and Peak XV Partners.

KAST offers both virtual and physical Visa cards that allow users to spend stablecoins like USDT, USDC, and USDe at over 100 million merchants worldwide. The platform's key features include a rapid onboarding process, allowing users to get a virtual card in minutes, compatibility with Apple Pay and Google Pay, and direct spending from stablecoin balances without pre-conversion. Users can earn cashback rewards of up to 12% in the form of KAST Points, which are planned to be convertible into a future token. The platform offers multiple card tiers, from standard options to premium metal cards, each with different cashback rates and benefits. A significant aspect of the ecosystem is its integration with Solana, offering benefits like enhanced staking rewards and faster transaction processing.

Keywords: stablecoin banking, crypto card, digital assets, cross-border payments, neobank, fintech, global finance, USDC, USDT, spend crypto, Visa card, Apple Pay, Google Pay, Raagulan Pathy, Daniel Bertoli, Solana integration, crypto rewards, financial technology, emerging markets, USD-denominated accounts, digital wallet, payment platform