KAST will end Points earning on November 30, 2026, and convert eligible balances into KAST Pioneer Units in the first week of December. Its transition notice says some users will receive spending vouchers instead, with the outcome determined by account balances, residence and eligibility requirements.
The stablecoin payments app has also ruled out a token generation event. “We chose not to pursue a token generation event (TGE),” KAST says. The replacement units will be non-transferable contractual rights with no guaranteed cash value. Keeping them will require an in-app acknowledgement after conversion; missing that deadline can cancel the units without restoring the former Points.
What stops in November
Users who already qualify for Points can continue earning through eligible activity until the cutoff, under the existing Points terms. The announcement does not open earning to additional users. KAST directs existing participants to the app for the activities that qualify during the remaining earning period.
Cashback continues under its applicable terms. KAST’s Rewards Program Terms and Conditions also state that stopping Points accrual does not affect eligibility for Cash Rewards. The terms distinguish Points from money in the account: they are entries in a company-maintained ledger, separate from both the Rewards Balance and the USD Balance Account, and do not correspond to cash or an asset amount.
The published terms allow pending transactions to earn Points. Transactions authorised before the Points Cessation Date can earn Points even when they settle afterwards. Activity after that date earns none, whether it is a transaction, task or campaign. The transition FAQ says Points earned through November 30 will enter the final conversion calculation in early December.
The existing terms give KAST discretion to stop accrual across all or some participants, jurisdictions, products or rewards programs. They normally require notice through the platform or email at least fourteen days ahead of the cessation date. Shorter notice is permitted for legal, regulatory, court, card-issuer or network requirements, and to prevent fraud or abuse.
Those terms also say validly credited Points are not forfeited merely because accrual stops, although clawback provisions still apply. The December transition introduces a separate condition for retaining the replacement units: the acknowledgement described in the notice.
Contractual units, with an acknowledgement deadline
Under the standard program, a special-purpose vehicle linked to KAST will issue the Pioneer Units. KAST describes them as contractual rights governed by the program terms. Holders will have neither shares nor ownership interests in KAST or the issuer, and the units confer no voting rights.
KAST will identify the issuer in the December update. The notice says that entity does not hold or manage money or assets on users’ behalf. Conversion of eligible Points requires no payment, and KAST will disclose each user’s unit balance and how it was calculated in the December update.
The units cannot be sold, transferred or traded. KAST says their notional economic value can rise or fall, but that value is not withdrawable cash. It plans periodic cash-out options in the future; the announcement gives no guaranteed payment or cash value. Potential benefits are tied to future company milestones, subject to the applicable program terms.
Users receiving units must complete a short in-app acknowledgement by the deadline supplied in their December update. KAST says there is no acknowledgement to complete today. The December update will give users the deadline and explain the steps they must take to retain their units.
Under the standard program, users who miss the acknowledgement deadline will lose their unit balance and any future payments or benefits relating to those units. Former Points will not be reinstated, and no replacement reward will be provided, subject to applicable law. KAST says each user’s December update and applicable terms will confirm the consequences for that account.
Who receives vouchers instead
Eligibility for conversion depends on the Points balance, the KAST balance, country of residence and legal and regulatory requirements. Email and in-app announcements identify the expected route for each user. KAST says recipients of the voucher announcement are not expected to qualify for units based on their current Points balance, with their position to be confirmed in December.
Incorrect or outdated account information can change the eligibility assessment. The notice asks users to update their residence details if those details are wrong or out of date. Anyone seeking a review of the eligibility decision can contact KAST Concierge. KAST may also request confirmation of residence or further information before confirming units or vouchers, including additional verification where local law requires it.
Vouchers will apply to eligible spending. They are not cash and cannot be withdrawn. KAST will provide voucher details, usage instructions, limits and expiry dates in December. Users assigned units cannot elect to receive vouchers instead or exchange their units for vouchers.
US users have a separate program because different legal and regulatory requirements apply. That program has its own eligibility criteria, terms, verification steps and timing. US users who are ineligible, or who do not complete the US program, will receive vouchers instead. KAST says it will contact them separately with the details.
Both routes require an open account in good standing. The notice defines that requirement by reference to account, anti-money-laundering, sanctions and other legal obligations in the applicable terms. Access can be suspended or lost where those terms and applicable law permit.
KAST’s product documentation describes a payments app that accepts stablecoin deposits, including $USDT and $USDC, and issues cards through regulated partners. The conversion formula, named unit issuer, acknowledgement deadline and voucher limits remain for the December disclosures.
