Plasma One vs KAST
A non-custodial stablecoin Visa with tiered cashback up to 4% (free Lite tier) vs a custodial multi-tier Visa with 16-currency settlement and premium cashback.
Quick verdict
Plasma One keeps it simple for stablecoin holders — non-custodial, 0% FX on USD and EUR, tiered 2–4% cashback in XPL, a free Lite tier, with zero-fee USDT transfers on the Plasma chain. KAST is a tiered multi-currency card: 1.5% on the free K Card rising to 6% on paid tiers, settlement in 16 fiat, but custodial and expensive at the top.
Side-by-side
| Plasma One | KAST | |
|---|---|---|
| FX Fees | 0% on USD & EUR · 1% on other currencies | 0% USD · 2% other · +$0.10 low-value purchases |
| Payback | Lite 2% · Core 3% · Platinum 4% — paid in XPL | 1.5% on K Card · 2%–3% on paid premium tiers |
| Annual Fee | Lite Free · Core $120/yr or 10,000 XPL lock · Platinum 100,000 XPL lock | $2 Virtual · $1,000/yr Premium · $10,000/yr Private |
| Physical Card | Virtual + orderable premium physical (by Rain) | Plastic + gold-metal Luxe at top tier |
| Custody | Non-custodial (on-device keys) | Custodial |
| Supported Currencies | Stablecoins: USDT, USDC, USDS | Spends in 16 fiat (USD, EUR, GBP, SGD, JPY…) |
| Region | Global; iOS-only at launch | 170+ countries / 150M+ Visa merchants |
Verdict by dimension
Custody
Plasma One wins — non-custodial. KAST is custodial.
FX Fees
Plasma One wins on other currencies (1% vs 2% plus $0.10); tie on USD (both 0%).
Cashback
Plasma One's 2–4% beats KAST's 1.5% base; KAST tops out higher (up to 6%) but only on costly premium tiers.
Annual Fee
Plasma One's Lite tier is free; both charge for higher cashback, but KAST's premium tiers ($1,000–$10,000/yr) cost far more than Plasma One's Core ($120/yr or 10,000 XPL lock).
Platform & settlement
KAST is on iOS and Android and settles in 16 fiat; Plasma One is iOS-only at launch.
Choose Plasma One if…
you hold stablecoins, want zero cost and self-custody, and iOS-only is fine.
Choose KAST if…
you spend across many fiat currencies, or want higher cashback through a paid tier.