Raagulan Pathy on Decrypt: KAST Is Building Far Beyond Crypto Cards

Our Founder and CEO, Raagulan Pathy, joined Decrypt's FOMO HOUR for a guest AMA on stablecoins, digital dollars, crypto cards, and the future of global banking.

The hosts started with what many people know us for first: crypto cards.

But the conversation quickly moved into a bigger story: how stablecoins are changing the way people earn, spend, send, and manage money around the world.

From Crypto Cards to Global Banking

Raagulan explained that our first major use case was simple: deposit stablecoins or crypto and spend from a card.

That solved a real problem. People needed an easier way to use digital assets in daily life.

But cards are only one part of the vision.

To become a real alternative to traditional banking, money needs to move across global and local payment rails. That includes SWIFT for international transfers, ACH in the U.S., SEPA in Europe, Pix in Brazil, and many others.

Those systems are complex. They require licenses, banking partners, compliance, infrastructure, and deep engineering work.

That is the hard part we are building.

"I want users to completely debank themselves and use KAST instead."

Stablecoins Are Becoming Everyday Money

The hosts pointed to rising crypto card and stablecoin usage, even across different market cycles.

Raagulan said the reason is simple: people are realizing that digital dollars are a better way to move and spend money.

Stablecoins used to follow crypto market momentum more closely. Now, adoption is increasingly driven by everyday utility.

People want to get paid in stablecoins. They want to send money across borders. They want to support family, pay rent, and spend from a card without relying only on legacy banking systems.

"Less than 1% of dollars are digital today. That leaves enormous room for growth."

This shift is already happening inside our own team. More than half of our workforce chooses to receive compensation in stablecoins.

"Why am I getting paid into my bank account? Can you pay me in stablecoins instead?"

Where We Are Seeing Growth

When the hosts asked where we are seeing the strongest growth, Raagulan pointed first to Latin America.

The region has strong product-market fit because of cross-border dollar flows, demand for digital dollars, and gaps in traditional banking infrastructure.

The Middle East and North Africa are also growing quickly, while Europe and the U.S. continue to become major markets for us.

The U.S. is already one of our top markets and could become our largest.

That matters because stablecoin adoption is not only happening in markets with weaker banking systems. Even in developed economies, people want faster and more flexible ways to move money.

"The cat's out of the bag. People are going to digitize their dollars."

Building Products for a Global Life

Raagulan also shared what we are building next.

That includes business accounts for companies operating across countries, future credit products, wealth products, and lighter app experiences designed for markets such as Africa and Latin America.

The goal is to serve people and businesses whose financial lives are already global.

People work remotely. Teams operate across dozens of countries. Families send money across borders. Businesses need better ways to pay, receive, hold, and manage funds.

Traditional banking was not built for that reality.

We are building for it.

Making Cards Useful Again

The hosts also asked about our card experience, including the premium and collectible cards people have seen across the crypto community.

Raagulan said cards should not feel generic.

We have worked with our card partners to make cards more flexible, more distinctive, and more connected to the communities using them.

That includes products like our solid gold card and community cards that people actually want to carry.

The point is not just how a card looks. It is about making financial products feel modern, useful, and personal.

Why the Hard Work Matters

Raagulan was clear that building a global neobank is not easy.

The simple version is stablecoins plus a card.

The real version requires payment rails, compliance, licenses, banking relationships, fraud controls, business products, local market support, and a strong product experience.

That is why our team now includes around 300 people, including approximately 150 engineers.

We are building the infrastructure that can make global money movement simpler for more people in more places.

What Comes Next

Crypto cards may be the first thing people notice, but the real shift is bigger. People want money that works across countries, apps, employers, and everyday payments without the usual friction.

That is what we are building toward.

Stablecoins are becoming a practical layer for global money movement. Our work is to make that layer easier to use, more useful, and ready for everyday financial life.