KAST Visa Prepaid Card: Stablecoin-Powered Global Spending Solution

Basic Information

The KAST Card is designed to bridge the gap between cryptocurrency holdings and everyday spending. Founded by former Circle executive Raagulan Pathy, KAST specifically targets globally mobile users and residents of emerging markets who lack easy access to US dollar accounts or affordable cross-border payments.

The card functions like a prepaid debit card backed by crypto balance but is technically issued as a credit card on the backend, which improves acceptance for pre-authorizations at merchants worldwide.

Rewards and Benefits

Cashback Structure

KAST offers a tiered rewards program based on card level:

• K Card (Standard): 2%-6% back on all spending
• X Card/Founders Edition: 5%-12% back on all spending
• 8 Card/Solana Gold: 8%-18% back on all spending

All rewards are paid in KAST points/tokens with no explicit monthly caps. These points will be convertible to KAST tokens at the Token Generation Event (TGE) with two options:

1. Immediate Swap: Get tokens instantly but forfeit 50% of point balance
2. Staggered Vesting: Receive 25% of tokens up-front with remaining 75% vesting monthly over 24 months

Staking Benefits

While no staking is required for basic functionality, Solana card variants offer significant bonus rewards for staking SOL through KAST's validator:

• Standard Solana Card: ~3.5%-7% APY extra in KAST points on SOL stake
• Solana Illuma Card: ~7%-14% APY boost
• Solana Gold Card: ~10.5%-21% APY boost

These boosts are in addition to the ~7% base SOL staking yield.

Referral Program

KAST offers a generous referral program:

• Referrers earn: 1,000 points when a referred friend spends at least $100, and 20,000 points if that friend upgrades to a premium card
• New users get: 1,000 points (~$60) on sign-up with a referral code, plus 500 points on their 5th transaction and 1,000 on their 20th

Rewards Season Model

KAST uses a "Season" model for rewards rates, where early adopters receive higher cashback percentages:

How the Season Model Works:

• The cashback percentage you receive is determined by the current Season, not when you activated your card
• Each Season has a progressively lower rewards rate as the Points pool released each Season is 10-25% smaller than the one before
• When a Season ends, all users automatically move to the new Season's lower rate for any new spending
• Changing tiers (e.g., upgrading from K → X) immediately moves you to the higher tier's seasonal rate
• Downgrading or letting the annual subscription lapse drops you to the then-current rate of the lower tier

Spend Multipliers

KAST offers temporary spend multipliers that stack on top of your base cashback rate:

Because multipliers compound with the base rate, a current-season X Card holder (10%) who hits the 3× December goal would net 30% back in KAST points for that month (10% × 3). Multipliers apply regardless of tier unless stated otherwise.

Rewards Program Limitations

It's important to understand several key limitations of the KAST rewards program:

• Not convertible: Currently points can not be converted to money. The conversion happens at TGE which is around Q4-2025 and H1-2026.
• No permanent rate lock-in: The cashback percentage is not permanently locked in when you activate your card. It changes with each Season, with rates automatically decreasing for all users.
• Points locking vs. rate locking: KAST allows you to lock up Points you've already earned to get bonus multipliers at TGE, but this does not freeze the cashback percentage on future card spend.
• Program flexibility: According to Rewards T&Cs §5-6, KAST may "modify Multipliers, implement caps, fees or expiration... alter availability... or end the Rewards Program entirely" with simple notice.
• Seasonal reductions: The Points pool released each Season is 10-25% smaller than the one before, causing the per-dollar earn rate to decline over time.
• Post-TGE tapering: After the Token Generation Event (targeted Q4-2025), rewards are expected to taper to 2-5% of FDV (Fully Diluted Valuation).

Fees and Limits

Spending and Withdrawal Limits

Card Tiers and Options

Special Variants:

• Solana Illuma: Available at the $1,000 tier with an LED logo that lights up on touch
• Solid Gold Card: Invite-only, made of actual solid gold (the "heaviest card ever made"), comes with three extra gold companion cards and custom pricing

All tiers share the same spending and withdrawal limits, with the primary differences being in rewards rates, card materials, and additional services.

Top-Up Methods

Users top up their KAST Card by transferring supported stablecoins (USDC, USDT, or USDe) from external wallets on networks such as Solana, Tron, Polygon, Ethereum, Optimism, and Arbitrum into their KAST custodial wallet using the KAST mobile app. Fiat top-ups are also available via SEPA (EUR), SWIFT (USD, min $1,000), and Brazil's PIX, with fiat converted to USDC at a ~0-0.1% fee. All funds must be pre-loaded into the KAST custodial wallet before spending, meaning users transfer custody from self-custody to KAST's partner-managed wallet. Stablecoin deposits have no conversion fee for spending (1:1 USD), but fiat deposits incur a small conversion fee; funds are available as soon as the blockchain transfer or fiat transaction clears (typically near-instant for crypto, variable for fiat). No minimum for crypto top-ups is specified, but SWIFT fiat deposits require $1,000 minimum, and there are no explicit maximums other than card spending limits (up to $100,000 per transaction).

Self-Custody Custodial

The KAST Card follows a custodial model where user funds are held and managed by KAST's licensed partner, not by the users themselves. After depositing stablecoins like USDC or USDT, users control their balances and spending through the KAST app, but do not have access to the underlying private keys at any point. All assets must be transferred to the platform's wallet, and if KAST or its partners ceased operations, users would not be able to independently retrieve their funds. This arrangement allows for seamless integration with Visa and fast card issuance but requires users to trust KAST's security and solvency, as there is no deposit insurance. The model is convenient and offers global access and rewards, but comes with the trade-off of relinquishing direct, independent control over your crypto assets.

Supported Currencies and Conversion

Supported Cryptocurrencies

KAST primarily focuses on USD-denominated stablecoins:

• USD Coin (USDC)
• Tether (USDT)
• USDe (Ethena's stablecoin)

Supported Blockchain Networks

Deposits and withdrawals are supported on multiple networks:

• Solana
• Ethereum (ERC-20)
• Tron (TRC-20)
• Polygon
• Optimism
• Arbitrum
• Other networks at KAST's discretion

Fiat Currency Support

While the account operates in USD by default (all funds held as USD-pegged stablecoins), the card can transact in any fiat currency at point of sale via the Visa network conversion.

Conversion Process

KAST offers a key benefit of zero conversion fees when spending stablecoins. The conversion happens at a 1:1 rate at the point of sale, with no spread or markup. For non-USD transactions, a 2% foreign exchange fee applies.

Geographic Availability

Supported Regions

KAST is available in over 150 countries worldwide, including:

Americas: United States, Canada, Mexico, Brazil, Argentina
Europe: United Kingdom, France, Germany, Spain, Italy, Poland, Ukraine
Africa: Nigeria, South Africa
Middle East: United Arab Emirates, Saudi Arabia, Turkey
Asia-Pacific: Japan, South Korea, Indonesia, Philippines, Thailand, Vietnam, Australia
India: Available for non-resident users only

Restricted Regions

KAST is not available in:

• Mainland China
• India (onshore)
• Russia
• Sanctioned countries (North Korea, Iran, Syria, Cuba)
• High-risk jurisdictions (Algeria, Bangladesh, Bolivia, Ethiopia, etc.)

Regional Variations

While card tiers are generally consistent globally, KAST integrates region-specific on-ramp/off-ramp methods for funding, such as:

• SEPA for Europe
• PIX for Brazil
• SWIFT USD transfers (minimum $10,000, being reduced to $1,000)

Compliance and Security

Identity Verification

Full KYC is required for all users, including:

• Government ID (passport, national ID, or driver's license)
• Selfie verification
• Proof-of-address documentation

The verification process is streamlined to under 2 minutes using automated checks.

Regulatory Framework

While KAST is not a bank itself, it partners with licensed financial institutions and adheres to KYC/AML procedures. The company likely holds MSB registrations or equivalent and follows international sanction regimes.

Custody Model

KAST uses a custodial wallet model managed by their partner. All funds are fully reserved with 1:1 backing. However, it's important to note that there is no deposit insurance - KAST explicitly warns that "Your account is not covered by insurance against losses."

Security Features

The platform implements multiple security measures:

• Advanced encryption
• Multi-factor authentication (MFA)
• Support for Google Authenticator 2FA and biometrics
• Card security features including freeze/unfreeze capabilities
• Custom spend limits on virtual cards
• Real-time push notifications for transactions

Technical Details

Mobile Wallet Integration

The KAST Card seamlessly integrates with:

• Apple Pay
• Google Pay
• PayPal
• Telegram payments
• Other online payment platforms accepting Visa

Card Technology

All cards function on the Visa network at Platinum level, providing wide acceptance at over 100 million merchants worldwide. While the card functions like a prepaid debit card from the user perspective, it's technically issued as a credit card on the backend, which improves acceptance for pre-authorizations.

Upcoming Features

KAST has announced several planned enhancements:

• Savings products where users can earn yield on stablecoin deposits (possibly via Treasury yields or DeFi)
• Expanded support for more cryptocurrencies beyond stablecoins
• Premium concierge services for X Card holders (in development)

User Experience

Mobile App

KAST offers a comprehensive mobile application available on:

• iOS (Apple App Store)
• Android (Google Play)

The app serves as the central hub for all services:

• User onboarding and KYC
• Card issuance and management
• Balance monitoring
• Support access
• Wallet top-up functionality
• Apple Pay/Google Pay integration

Support Channels

KAST provides 24/7 support through multiple channels:

• WhatsApp (+44 7888 871185)
• Telegram
• Email
• In-app chat

Premium tier users may receive priority routing for support inquiries.

User Feedback

User feedback has been generally positive regarding quick onboarding, ease of use, and responsive support. The Android app currently has a 2.8-star rating with mixed reviews, with many negative reviews coming from users in unsupported regions.

Common complaints include:

• Availability issues (users in restricted countries unable to sign up)
• Introduction of the $0.25 fee for small transactions
• Occasional technical glitches

Best Suited For

• Digital Nomads and Expats who need a reliable way to spend USD-denominated assets globally without high foreign exchange fees
• Residents of High-Inflation Countries who want to preserve purchasing power by holding stablecoins while maintaining spending flexibility
• Crypto Enthusiasts who want to use their stablecoin holdings for everyday purchases without complex conversion processes
• Remote Workers receiving payments in cryptocurrency who need a simple way to spend their earnings
• Unbanked Populations seeking access to the global financial system without traditional banking relationships

Pros and Cons

Pros

• Zero conversion fee when spending stablecoins (1:1 conversion)
• Generous rewards program with up to 18% back in KAST points
• Instant virtual card issuance with optional physical cards
• High spending limits with no daily cap
• Wide global availability across 150+ countries
• No bank account required for setup

Cons

• 2% foreign exchange fee on non-USD transactions
• $0.25 fee on small non-USD transactions under $25
• Relatively high ATM withdrawal fees
• Custodial wallet with no deposit insurance
• Annual subscription fees for all card tiers
• Not available in several major markets (mainland China, Russia, India)
• Cashback rates decrease with each Season, with no ability to permanently lock in higher rates

Conclusion

The KAST Card represents a significant advancement in bridging cryptocurrency and traditional payment systems, offering a practical solution for spending stablecoins in everyday life. Its standout features include zero crypto-to-fiat conversion fees, generous rewards, and truly global availability across 150+ countries.

What sets KAST apart from competitors is its focus on stablecoin utility rather than volatile cryptocurrencies, making it particularly valuable for globally mobile individuals and those in emerging markets seeking dollar stability. The platform's ability to issue virtual cards instantly and provide high spending limits addresses real pain points for international users.

However, the 2% foreign exchange fee on non-USD transactions and fees on small purchases make it less ideal for frequent small transactions in local currencies. Additionally, as a custodial service without deposit insurance, users must trust KAST's security measures and the solvency of the stablecoin issuers.

Users should also be aware that the rewards program operates on a seasonal model with progressively decreasing rates. Despite marketing that might suggest otherwise, cashback percentages are not permanently locked in when you activate your card, but rather follow the current Season's rate structure.

For crypto enthusiasts, digital nomads, remote workers, and residents of high-inflation countries, the benefits of borderless spending, high rewards, and stablecoin utility likely outweigh the fees and limitations. As the platform continues to evolve with planned features like yield-earning options and expanded cryptocurrency support, KAST has the potential to become an even more comprehensive financial solution for the globally connected, crypto-savvy user.

Additional Information

Detailed Fee Structure

On/Off-Ramp Options

KAST offers several fiat corridors for funding accounts:

• SEPA (EUR)
• SWIFT (USD ≥ $10,000, being reduced to $1,000)
• Brazil's PIX
• Mexico's SPEI

These services convert fiat deposits into USDC at very low cost (~0-0.1% fee).

Blockchain Support

KAST officially supports deposits and withdrawals on multiple networks:

• Ethereum
• Polygon
• Optimism
• Arbitrum
• Solana
• Tron
• Other networks at KAST's discretion

Custody Information

While KAST provides the user interface and card services, the actual custody of crypto assets is handled by KAST's partner. All funds are fully reserved with 1:1 backing, but users should be aware that there is no deposit insurance protection.

Maximizing Rewards

To maximize your KAST Card rewards, consider these strategies:

Additional Reward-Boosting Methods:

Key takeaway: The most important factor is to spend during seasons with higher rates and take advantage of temporary multipliers whenever they appear. Remember that cashback rates decrease with each new Season, and there is no way to permanently lock in a higher rate from an earlier Season.