KAST, the global financial platform built on stablecoin infrastructure, has expanded its Global Payouts feature, allowing users to convert and spend stablecoins internationally.
The update adds 11 new currencies for local payouts, enabling users to earn globally and send locally in a single platform.
According to Financial IT, the newly supported currencies include GBP (UK), EUR (SEPA), CAD (Canada), as well as IDR (Indonesia), VND (Vietnam), PHP (Philippines), THB (Thailand), MYR (Malaysia), NGN (Nigeria) and TRY (Turkey).
This follows the initial launch of Global Payouts earlier as KAST develops a stablecoin-powered neobank designed for everyday financial needs.
Global Payouts allows users, including immigrants sending money home, crypto earners, freelancers, and traders, to access digital earnings in stablecoins without relying on exchanges or complex off-ramps.
The feature connects KAST accounts directly to multiple global payment networks, enabling stablecoin transfers to bank accounts in local currencies.
The expansion aims to simplify cross-border earning and spending.
For instance, someone working remotely in Indonesia can receive stablecoin payments to their KAST account and convert them to IDR for local expenses.
Raagulan Pathy, Founder and CEO of KAST, said:
“The expansion of Global Payouts to even more countries and currencies reflects how quickly we are scaling stablecoin-powered global money movement. We are building financial products for people who are relentless in their pursuit of growth and we’re matching that energy with how quickly we are building.”
To mark the expansion, KAST is waiving fees for SWIFT payouts over US$5,000 for a limited period, allowing users to test the international transfer function.
Featured image credit: Edited by Fintech News Singapore, based on image by masaideeabdulkoday70 via Freepik
