The new rewards feature sits alongside KAST Points and varies by membership tier.
KAST has launched USD stablecoin cashback, allowing users to earn up to 3% cashback on card spending.
The feature sits alongside KAST’s existing points-based rewards and comes as stablecoins are being used beyond crypto trading.
Cashback rates vary by membership tier. Standard users can earn 1.5% cashback on the first US$2,000 of monthly card spend.
Premium members can earn 2% cashback on up to US$10,000 in monthly spend, along with 1% in KAST Points on eligible transactions.
Private members can earn 3% cashback on monthly spend of up to US$40,000.
They also receive 2% in KAST Points on eligible card transactions and access to a gold card. Rewards are subject to terms and conditions.
Premium and Private members also receive a Visa Infinite card, which includes travel accident insurance of up to US$1.5 million, 180-day purchase protection, 30-day price protection and access to more than 1,200 airport lounges worldwide through the Visa Airport Companion app.
Raagulan Pathy, Founder and CEO of KAST, said,
“We know users want rewards to feel like real money, not something you have to manage over time.
Stablecoin cashback is a step in that direction – what you earn is what you get, and you can use it on your KAST card along with your typical spend. Over time, that’s where rewards are heading.”
The launch follows KAST’s US$80 million Series A funding round last month, co-led by QED Investors and Left Lane Capital.
KAST also plans to introduce savings products, credit and KAST Business later this year.
