Kast launches stablecoin business accounts with up to 8% APY

Kast has launched a stablecoin-based business platform offering accounts, cards, transfers in more than 20 currencies, and returns of up to 8% APY across over 170 countries.

Kast said its new KAST Business platform gives companies a single service for receiving money, holding stablecoins, issuing cards, and paying workers or vendors across different markets.

Businesses can receive fiat through virtual accounts supplied by regulated partners. Customers may also fund their accounts with supported stablecoins and other crypto assets, although Kast has not published a complete list of eligible tokens for every jurisdiction.

After funds arrive, companies can issue virtual cards for employees, vendors or subscriptions. The platform also supports local payouts in more than 20 currencies, giving internationally distributed teams an alternative to managing separate bank accounts and payment services.

Kast said the service reaches more than 170 countries, but access to individual products depends on the customer’s location and the rules applied by its financial partners. Account features, card availability, and transfer options may therefore differ between jurisdictions.

Kast Business combines payments with stablecoin balances

The platform brings several functions normally offered by separate providers into one dashboard. Along with receiving and sending funds, business owners can create virtual cards and assign them to individual team members or recurring expenses.

Kast’s business page says companies can issue hundreds of virtual cards and set separate spending limits. Customers can use the cards for operating costs, including software subscriptions, vendor bills and online advertising, subject to the company’s eligibility rules and card controls.

Card spending can generate cashback of up to 3%, according to Kast. The actual rate depends on the customer’s membership level, transaction type, monthly spending limit, and location.

Standard cardholders receive a lower rate than customers on paid tiers. Kast’s published card terms show that foreign exchange fees can also range from 0.5% to 1.75%, depending on the country, transaction, and card program, meaning the advertised cashback rate does not apply equally to every payment.

For cross-border transfers, companies can receive money through fiat accounts before moving it through stablecoin infrastructure. The structure gives businesses a way to accept traditional bank payments while using digital assets for treasury operations or settlement.

A similar model has begun appearing among other payment companies. In July, Ramp launched accounts that let companies hold USDC and USDT, send stablecoins at any time, and settle payments in more than 40 local currencies across over 140 countries.

The 8% APY comes with product and jurisdiction limits

Kast advertises returns of up to 8% APY on idle business balances. The company says the return comes from short-term U.S. Treasuries and stablecoin yield, but the maximum rate should not be treated as a fixed return available to every customer.

Kast has not detailed on its public business page how much of the advertised return comes from Treasury assets and how much comes from other stablecoin strategies. The company also has not provided a full public breakdown of the underlying products, counterparties, fees, or conditions required to receive the highest rate.

An APY shows the annualized return after compounding and does not mean customers will receive 8% over a shorter holding period. Rates generated by Treasury instruments or crypto-market activity can change as market conditions, fees, and strategy performance change.

As a June explainer from crypto.news noted, stablecoin-linked returns can come from several sources, including government debt, lending markets, trading strategies and platform-funded rewards. Each structure carries different custody, liquidity, counterparty, and regulatory risks.

Kast identifies itself as a financial technology company, not a bank. Regulated account and payment services are supplied through licensed partner institutions, according to the company.

Customers would therefore need to review the terms for the specific fiat account, stablecoin balance, and yield product they use. Kast’s description does not state that every balance qualifies as an insured bank deposit, while digital assets and investment products generally do not receive the same protections as deposits held directly at an insured bank.

U.S. rules place stablecoin rewards under scrutiny

For U.S. businesses, the yield feature arrives while regulators and lawmakers continue to examine how stablecoin rewards should be treated.

The GENIUS Act created a federal framework for payment stablecoins and prevents payment stablecoin issuers from paying interest or yield solely for holding their tokens. The restriction does not automatically settle how a separate fintech platform may offer rewards or returns through an account, Treasury product, or another investment arrangement.

Kast’s description presents the return as a feature attached to business balances and says it is powered by short-term U.S. Treasuries and stablecoin yield. The company has not publicly explained whether U.S. customers can access the same maximum rate or which legal structure governs the product in the United States.

Availability may also depend on the licensed partner holding the funds, the type of asset placed in the account, and whether a yield product falls under banking, securities, or another set of financial rules. Kast’s statement that services vary by jurisdiction leaves open which business features will be offered to American companies at launch.

U.S. users may also face tax reporting obligations when they receive yield or cashback, depending on how each payment is classified. Kast has not published product-specific U.S. tax guidance for the new business service, so customers would need to rely on their transaction records and professional advice when reporting income.

Kast targets up to 5,000 active businesses in 2026

Kast launched the business product after closing an $80 million Series A funding round in March at a reported valuation of $600 million.

The company said it would direct the capital toward product development, licensing, and expansion in North America, Latin America, and the Middle East. Kast claims more than 1 million users and plans to bring between 1,000 and 5,000 active companies onto KAST Business by the end of 2026.

Before the business-platform rollout, Kast appointed former U.S. Securities and Exchange Commission senior adviser Stephanie Allen as head of corporate and policy communications. The April appointment placed Allen in charge of the company’s engagement with policymakers, industry groups and media as Kast expanded its stablecoin services in North America and Latin America.