Kast is a digital stablecoin payment platform designed to connect blockchain assets with traditional retail commerce. The service provides virtual and physical Visa debit cards, enabling users to spend stablecoin balances directly at global merchants. By removing manual off-ramping steps, the platform functions as an integrated stablecoin neobank focused on global access.
Kast functions as a custodial digital wallet application that partners with primary payment processors. The company is privately held and manages fiat conversions via centralized liquidity engines. It generates revenue by collecting annual membership fees, transaction markup spreads, and merchant card interchange fees.
How is Kast structured as a stablecoin platform?
Kast operates structurally as a custodial digital wallet platform that bridges multi-chain blockchain networks with card networks. The platform is not a licensed retail bank and does not offer government-insured checking deposits. Instead, it acts as a custodial intermediary, retaining control over the private cryptographic keys of all user deposit wallets. It handles compliance requirements under regional Money Services Business registration guidelines.
The deposit architecture integrates directly with high-speed blockchains and Layer 2 scaling networks. Supported networks include the Solana blockchain and Ethereum Layer 2 networks such as Arbitrum and Base. When a user deposits stablecoins like USDC, USDT, or USDe, the assets are held in Kast’s corporate treasury pools. The automated system updates the user’s spendable card balance within the Visa authorization database.
This structure allows the platform to support instant fiat conversions during point-of-sale authorizations. By pooling assets, the company settles retail transactions without requiring users to sign on-chain transactions at terminals. The custodial model relies on third-party liquidity hubs to hedge currency volatility risk. This setup isolates individual on-chain addresses, reducing transaction gas expenses for active cardholders.
How do the Kast Visa cards and banking features function?
The Kast Visa cards and banking features function by processing retail authorizations and executing international bank transfers. The platform issues instant virtual cards and physical metal cards accepted at millions of merchants. A virtual card is provisioned in the mobile app immediately after successful identity verification. Users can add these virtual profiles directly to Apple Pay or Google Pay for contactless transactions.
| Card Membership Tier | Card Material Type | Base Point Earning Rate | Annual Membership Fee |
|---|---|---|---|
| Standard Tier | Virtual Profile | 1.0% point rate | Zero |
| Gold Tier | Metal Card | 2.0% point rate | Varied annual cost |
| Premium Tier | Metal Card | 3.0% point rate | High annual cost |
The platform also provides virtual USD bank accounts that support ACH and Fedwire deposits. These virtual accounts allow international freelancers to receive traditional bank transfers from U.S. companies. Incoming USD deposits are automatically converted into USDC and credited to the user’s digital wallet. This banking bridge enables global dollar access for users located in emerging markets.
International fiat payouts allow users to convert stablecoin balances into regional currencies like GBP or EUR. These converted funds can be sent directly to local bank accounts in over 200 countries. The system routes payouts through regional bank clearing partners rather than traditional SWIFT wire transfers. This routing accelerates processing, delivering local currency to recipient bank accounts within one business day.
What fees and transaction costs does Kast charge?
Kast charges annual membership fees, conversion spreads, and out-of-network transaction fees based on card tiers. The entry-level Standard tier carries zero annual fees but applies higher transaction-specific costs. Premium tiers require significant annual fees paid in stablecoins or platform engagement points. For example, specialized premium metal cards carry upfront activation costs reaching hundreds of dollars.
The conversion spread represents the markup applied when converting stablecoins to fiat currency during purchases. This internal spread typically ranges from 1.0% to 2.5% depending on target currency liquidity. Additionally, standard accounts are subject to a 2.0% foreign transaction fee on non-USD retail purchases. These combined spread and FX charges represent the primary cost of using the card internationally.
| Fee Category Type | Standard Tier Rate | Gold Tier Rate | Premium Tier Rate |
|---|---|---|---|
| Annual Card Fee | $0 | $99 | $499 |
| Foreign Transaction Fee | 2.0% fee | 1.5% fee | Zero fees |
| ATM Cash Withdrawal | 2.0% fee | 1.0% fee | Free limits apply |
ATM cash withdrawals incur percentage-based fees once the user exceeds their monthly tier allowances. Standard accounts pay a flat 2.0% fee on all out-of-network cash ATM withdrawals. Internal peer-to-peer transfers between registered platform users are executed free of charge. The platform displays these transaction fees within the card dashboard to maintain pricing visibility.
Who is eligible for Kast and what are the account limits?
Eligibility to open a Kast account is open to residents of over 150 supported countries. The platform is designed to provide global dollar utility, targeting users in emerging market corridors. To activate the Visa payment card, users must complete a Know Your Customer verification process. This verification requires uploading a government photo ID and submitting proof of physical residence.
The platform enforces spending and deposit limits determined by the user’s verification level and card tier. Unverified accounts are restricted from depositing stablecoins or issuing virtual payment cards. Verified Standard tier cardholders are limited to a maximum daily transaction spending cap of $5,000. Premium tier members can unlock higher spending limits up to $25,000 daily by providing tax documents.
| Limit Category Type | Standard Tier Limit | Gold Tier Limit | Premium Tier Limit |
|---|---|---|---|
| Daily Spending Cap | $5,000 | $15,000 | $25,000 |
| Daily ATM Cash Limit | $500 | $1,500 | $2,500 |
| Monthly Deposit Cap | $20,000 | $50,000 | Unlimited |
Deposit limits restrict the volume of stablecoins a user can transfer onto the platform monthly. The Standard tier restricts deposits to $20,000 monthly to satisfy compliance monitoring rules. If a deposit exceeds these limits, the transaction is held in a pending state until compliance review finishes.
What risks and custody tradeoffs does Kast present?
Kast presents specific operational tradeoffs, including custodial counterparty risks and stablecoin de-pegging exposure. Because the platform is custodial, users do not hold the private keys to their deposit addresses. If the company experiences insolvency or security breaches, customer digital assets can be frozen or lost. This custodial design exposes users to counterparty risks not present in non-custodial smart contract wallets.
The platform is subject to regulatory oversight, which can lead to sudden account restrictions. If a user’s local jurisdiction updates its cryptocurrency laws, the platform may terminate services in that region. Additionally, the utility of the card is dependent on the price stability of supported stablecoins like USDT. If a stablecoin experiences a de-pegging event, the user’s card purchasing power drops immediately.
Technical dependencies on underlying blockchains represent an ongoing operational risk for card funding. If the Solana network or an Ethereum Layer 2 experiences downtime, deposits cannot clear. This network congestion can temporarily block users from topping up their cards during retail purchases. Finally, once a Visa card transaction is cleared at a merchant terminal, the transaction is irreversible.
Common questions
Is Kast a licensed bank?
Kast is a digital stablecoin platform and money services business, not a licensed commercial bank. It does not offer interest-bearing checking accounts covered by government-backed FDIC deposit insurance. All stablecoin balances are held in custodial corporate accounts managed by the platform’s treasury.
How do I earn Kast Points?
You earn Kast Points by executing retail card transactions and maintaining stablecoin balances. The earning rate is tied to your card tier, with premium tiers earning points faster. These points qualify users for card upgrades and future ecosystem utility events.
Can I use the card internationally?
The Kast Visa card is accepted at over 150 million merchants and ATMs worldwide. However, standard tiers incur a 2.0% foreign transaction fee on non-USD purchases. You can waive this fee by upgrading to the Premium tier of membership.
