In short
Podcast Summary: Real Vision - Breakpoint 2024: KAST - Product Keynote
Overview This episode of the Real Vision Podcast features a keynote address by Raagulan Pathy, co-founder of KAST, during Breakpoint 2024, a prominent event in the Solana ecosystem. The discussion focuses on KAST's innovative approach to stablecoins and the introduction of its new product suite, PayFi.
Key Points Discussed
- Introduction to KAST and Raagulan Pathy
- Background of Raagulan Pathy, previous experience with Circle and USDC.
- Passion for stablecoins as a solution to banking inefficiencies in over 150 countries.
- The Need for Stablecoins
- Current banking systems fail in many regions, creating demand for alternatives.
- KAST aims to simplify stablecoin usability, moving beyond exchanges and wallets.
- PayFi: The Future Bank on Chain
- KAST's vision to build a comprehensive banking experience on the Solana blockchain.
- Key features include checking and savings accounts, yield on stablecoins, and a card system.
- User-friendly approach: Quick KYC process (around 3 minutes) and support for users from various countries.
- Launch of Solana Validator
- Partnership with Kiln to introduce KAST’s Solana Validator.
- Offers a 0% commission with a 7.6% APY through a MEV kickback.
- Innovative Spending Solutions
- Introduction of a feature allowing users to spend up to 60% of their SOL balance interest-free.
- Seamless payment experience intended for everyday use.
New Product Introductions
- KAST Card Offerings
- Virtual Card: Available for pre-order, aimed at easy spending.
- Black Metal Card: A luxury card that illuminates upon use, priced at 10 SOL.
- Solid Gold Card: The world's heaviest solid gold card, priced over $10,000, comes with exclusive benefits and supplementary gold cards.
Conclusion Raagulan Pathy expresses excitement about the innovations KAST brings to the Solana ecosystem, emphasizing a commitment to enhancing user experience and providing real alternatives to traditional banking through blockchain technology.
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Key Takeaways
- KAST is positioning itself as a major player in the stablecoin and DeFi space by simplifying user experiences.
- The product suite, PayFi, aims to offer a comprehensive banking solution within the Solana ecosystem.
- Innovative physical card offerings introduce a blend of luxury and utility to the cryptocurrency experience.
- The episode underscores the ongoing growth and potential of the Solana blockchain in finance and investing.
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Additional Notes
- Event Context: Breakpoint 2024 was held from September 20-21 in Singapore, bringing together the global Solana community.
- Disclaimer: Listeners are reminded that the content is for informational purposes and should not be taken as financial advice. Always conduct independent research and consult with professionals before making investment decisions.
For further engagement and resources, listeners are encouraged to visit [Real Vision](https://rvtv.io/3Y4t5Pw) and connect through their social media platforms.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:01Picture yourself on a beach, retired early and enjoying financial freedom. If this is your dream, then now's the time to level up your investing game, and Real Vision can help you. We arm you with the knowledge, the tools, and the network to succeed on your financial journey on your own terms. Take control of your future and visit realvision.com forward slash free. That's realvision.com forward slash free. Hey, everyone. But as you know, Solana is one of the ecosystems I'm the most interested in. I've been incredibly bullish. I love to see the vibrancy of what is happening in the space. Unfortunately, I couldn't make Breakpoint this year, but the stories have been amazing.
0:48I heard the talks are incredible. And we're really proud of Real Vision to give you talks from Solana Breakpoint 2024 in Singapore. I really hope you enjoy them.
1:08Hi, everyone. My name is Ragoulin Pathy. I'm the co-founder of Cast. Previously, before starting Cast, I set up the circle business in Asia, best known for USDC, and I'm very passionate about stablecoins. The reason is that for about 150 countries in the world today, banking is basically not working anymore. But stablecoins are a real alternative, which is real, which people can use. But the actual usability of stablecoins, the experience today is not great because you've got to go to an exchange or a wallet. So we thought, what about if you could build the world's future bank on chain, because you have all the components such as like a checking account, a savings account with yield bank stable coins, and a card.
1:59And what if we could deliver that to the world? And we believe Solana is one of the only ecosystems on which you could build this. Fast, cheap, and built on Solana. The cast magic is really that we spend an incredible amount of time on our experience. So you can sign up in KYC in three minutes. It supports people from nearly any country in the world, and we're continuously expanding that. And so we're trying to strip away the complex user experience that you see in most of crypto and really make it very, very simple. So you can go and sign up today on Castoff Finance. ads. Now, we have also launched Solana Validator, which is with our partner Kiln, which most people would know.
2:53And you can go and look for the Cast Validator today and stake on there. It's a 0 % commission, 100 % MEV kickback. And it's about a 7.6 APY. Now, the main reason we're launching this will be apparent in just a few seconds. Because you might be wondering, what's a future bank that people are trying to build on chain and got to do with a Solana validator?
3:22And for that, we introduce PayFi. We're going to allow you to hold up, to spend up to 60 % of your soul that you hold with us, interest-free forever.
3:42And this is the first time that it's actually going to happen. And so this means that on certain plans, we'll obviously hold it in our validator and use that to subsidize your spending. But it'll be a very, very seamless experience that you'll be able to tap and pay anywhere. Now, if you think that was good, we're releasing the first ever Solana card. This is going to be available in pre-order now.
4:11You can get your free virtual card very soon, and you can use the app today to get it. But I know you're coming here to just not see ordinary things. You want to see something a little bit crazy. So we also have a black metal card, which we've designed, which illuminates on tap pay. This goes for 10 sold, but it includes a whole bunch of other benefits. And so this is a bit of a show-off factor that you can take around and you can tap and pay with your cool Solana card. But that's not the real show. The real show is what I'm about to show you. The real show is the Solana Solid Gold Card. This is, for those who really feel that way, that they really want to go and show off, the heaviest solid gold card ever made in the world.
5:12We actually have a normal gold card as well in between, which I didn't have time to put into the presentation, which you can get. But with the solid gold card, and it costs us more than$10 ,000 to make one of these, you actually get three of the supplementary normal gold cards as well. And you can hold 60 % interest-free on your card, and you can spend against your soul. And you also get the highest points forever. Now, we only have 100 of these for sale. It's really, if you really are crazy, and that's the way that you want to go. But it's available for pre-order now. But in either case, if you want to be part of the Solano ecosystem, we'll be releasing the virtual card for free.
5:53And so just to show you, I do actually have a version of the solid gold card right here that you can actually see. And we're super excited to partner with Solana and introduce us to the ecosystem. Thank you. Go to cast.finance.com to find out more.
6:16Picture yourself on a beach, retired early and enjoying financial freedom. If this is your dream, then now's the time to level up your investing game, and Real Vision can help you. We arm you with the knowledge, the tools, and the network to succeed on your financial journey on your own terms. Take control of your future and visit realvision.com forward slash free. That's realvision.com forward slash free.
6:50Thank you.
From the publisher
*SPONSORED CONTENT* Did you miss out on Breakpoint 2024? In partnership with Solana, Real Vision is releasing the best talks from Breakpoint 2024. In this keynote, Raagulan Pathy of KAST, a stablecoin “super-app” built on Solana, introduces its PayFi suite of products — including IRL cards.
Breakpoint is the annual gathering of the worldwide Solana community, hosted by the Solana Foundation. Breakpoint 2024 was held Sept. 20-21 in Singapore. For more information, go to solana.com/breakpoint.
DISCLAIMER
The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing.
This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein.
The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.
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