Kast also issues credit cards that work with standard merchant networks, enabling users to spend their stablecoin holdings at merchants who don’t support crypto transactions.
The startup is targeting emerging markets, where access to USD is restricted and remittance costs are high. KAST does not operate in India or China due to regulatory constraints, but it serves the large offshore workforce from these markets.
Co-founder Raagulan Pathy, who previously ran Circle’s Asia Pacific operations, told TechCrunch that banking infrastructure in many countries severely lacks cross-border capabilities. The platform aims to reduce friction in making international payments by bypassing traditional banking networks.