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KAST provides 4 variations of its card, beginning with a free digital one and one which prices 50 SOL.
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To entry these debit playing cards, customers should undergo a KYC course of.
KAST, a monetary companies platform that runs on the Solana (SOL) community, launched a Visa-Mastercard debit card to make funds with stablecoins about on this community. This card works in Argentina, Venezuela, Brazil, in addition to the United States. “Spend without borders: spend stablecoins and cryptocurrencies with accounts available in more than 100 countries,” in accordance with the assertion on the KAST web site.
Although the launch was introduced at a convention on the finish of September 2024, immediately, November 6, the information took on larger relevance when the crew behind Solana from the official X account was accountable for notifying the actual fact.
From KAST they purpose that customers, with this debit card, can spend their stablecoins (USDT, USDC and USDe) in on a regular basis companies, services or products.
Users should deposit your funds into the KAST app and, on the time of a fee, the card converts stablecoins pegged to the US greenback (US-PEGGED stablecoins) to USD with out commissions. This may very well be helpful for these customers who want to use their crypto belongings for every day purchases.
KAST works by depositing cash in an app
It is legitimate to make clear that this app doesn’t work as a pockets self-custodythe place customers maintain the non-public keys to their accounts in their possession. In this case, the corporate is accountable for the funds, so these customers in its merchandise ought to know that custody is carried out by KAST.
On the opposite hand, in accordance with Raagulan Pathy, co-founder of KAST, it is the “first Solana-based card.” Purchasing the KAST card requires a registration and KYC course of that may be accomplished in “just three minutes.”
According to the announcement, this platform already works in greater than “100 million businesses and in more than 100 countries.” Among the out there nations are Argentina, Venezuela, Brazil, in addition to the United States and others. Allows integration with fee purposes on-line Apple Pay and Google Pay.
KAST has 4 card choices in its net. During the presentation, Raagulan Pathy introduced that they may supply a restricted possibility of 100 models of those “solid gold” debit playing cards. These include “exclusive benefits,” together with larger rewards factors and the power to spend tokens of SOL positioned in staking.
Acquiring this card prices 50 SOL. However, KAST launched a free digital model of its Solana-based debit card.
KAST permits you to spend SOL on staking with its “solid gold” card
This platform provides an possibility known as PayFi (in English Payment Finance). While it is out there as a built-in performance on the platform, it may also be used through the KAST “solid gold” debit card.
Within KAST, customers can put their SOL tokens into staking. The device PayFi allows the customers spend a proportion of these locked SOLs (as much as 60%) to make funds and transactions.
The platform routinely converts locked SOLs into the equal quantity in USD (or different stablecoin) on the time of transaction.
This implies that customers can entry the worth of their belongings that they maintain in staking throughout the platform whereas holding them producing passive earnings, with the staking. KAST additionally doesn’t cost curiosity for utilizing blocked SOLs.
This may very well be helpful for customers who need to maintain their SOLs in staking to acquire rewards, however in addition they want liquidity for every day bills.
