Kazakhstan’s central bank has approved three pilot projects in the digital asset sector, including gold tokenization, crypto payments via QR codes, and the issuance of a tenge-pegged stablecoin.
The gold tokenization project will involve refined gold held by the National Bank of Kazakhstan (NBK), which has significantly increased its gold reserves in 2025, becoming one of the world’s largest buyers. While the NBK governor has described gold as a stronger investment than cryptocurrencies, the bank is also considering allocating part of its reserves to major digital assets as part of a planned $1 billion national crypto reserve.
Another pilot will test crypto payments using QR codes. Although authorities have stated that cryptocurrencies will not be accepted directly as a payment method, the system is expected to convert crypto into fiat currency before transactions are completed. This initiative aligns with upcoming legislation aimed at regulating digital finance and crypto assets.
The third project focuses on launching a stablecoin pegged to the Kazakhstani tenge to support digital asset transactions once broader regulations are in place. Kazakhstan previously announced a tenge-backed stablecoin, Evo (KZTE), built on the Solana blockchain with support from Mastercard.
847.544 SRY