---
title: "KAST Dollar (USDK) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdk-kast/"
description: "Build-time stablecoin profile for KAST Dollar (USDK). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# KAST Dollar (USDK)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

KAST's USDK is an Anjouan-domiciled M0 wrapper of tokenized {{term:treasury}}T-bills{{/term}}, distributed via a fintech card app -- T-bill yield is retained by KAST, not passed to holders. KAST Dollar is what you get when a Comoros-domiciled fintech wraps M0's tokenized {{term:treasury}}T-bills{{/term}}, slaps a card on top, and quietly pockets the yield. The token sits on Solana as a Token-2022 mint with permissioned transfer hooks and confidential-transfer extensions built in -- useful if you trust KAST and BitGo, awkward otherwise. At roughly $24M outstanding it is still proof-of-concept scale, riding entirely on M0 Validator {{term:attestation}}attestations{{/term}} rather than its own audit trail. Holders earn nothing; if you want the T-bill carry you're nudged into USDKy, KAST's separately rebasing twin. The legal stack -- KAST Tech in Anjouan, {{term:custody}}custody{{/term}} by partners, 'not a bank' disclaimer in bold -- is the modern offshore neobank uniform. A cleaner version of buying T-bills than most card-app stablecoins, provided you've made peace with single-jurisdiction issuer risk and a regulator most maps don't bother to label.

## Collateral

Short-term U.S. Treasury bills held via M0 Protocol's permissioned Minter infrastructure in bankruptcy-remote SPVs; collateral sufficiency cryptographically attested on-chain by independent M0 Validators before USDK mints are authorized. Yield generated by the underlying M token is retained by KAST as fee revenue rather than passed to USDK holders (a separate token, USDKy, exists for yield-seeking users)

## Peg Mechanism

1:1 wrapper around M (M0) on Solana — KAST mints USDK by depositing/wrapping M into the USDK SPL Token-2022 mint, and unwraps back to M for redemption; user-facing fiat on/off-ramp and redemption are mediated by the KAST app via licensed partners (Tazapay, BitGo, Fireblocks). The Token-2022 mint has transfer hooks and confidential-transfer extensions with authority held by KAST

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Union of Comoros | Anjouan Offshore Finance Authority | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| solana | `usdkbee86pkLyRmxfFCdkyySpxRb5ndCxVsK2BkRXwX` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdk-kast.