Tether, Kazakhstan Plan Tenge Stablecoin Pilot
The exploratory pact will study issuance models and digital finance infrastructure as Kazakhstan tests a tenge-backed token and tokenized assets under its regulatory sandbox.
- On Wednesday, Tether signed a memorandum of understanding with The National Bank and the Alatau City Authority to explore a potential stablecoin pegged to the Kazakhstani currency and asset tokenization.
- Operating under a special legal regime designed for investment and technology, Alatau City gained this position following constitutional changes effective July 1, creating a framework for accelerated-development cities.
- Tether, issuer of USDT with about $140 billion in circulation, may utilize its Hadron platform for the project. The company also manages the roughly $3.3 billion XAUT gold product backed by physical bullion.
- NBK Deputy Governor Binur Zhalenov emphasized "financial stability, transaction transparency, and robust investor protection" as regulatory priorities for the exploratory agreement, which remains focused on study and pilot proposals rather than immediate issuance.
- This collaboration continues The National Bank's efforts to integrate digital assets with existing financial infrastructure, building on a Kazakhstani currency-denominated stablecoin pilot launched in September 2025 through the regulatory sandbox.
18 Articles
18 Articles
Kazakhstan Central Bank and Tether Explore Tenge-Pegged Stablecoin
Kazakhstan’s central bank is working with Tether and the Alatau City Authority to explore a tenge-backed stablecoin and tokenized real-world assets, extending the country’s push to bring blockchain-based financial instruments inside a regulated national framework. The National Bank of Kazakhstan (NBK), Tether and the Alatau City Authority signed a memorandum of understanding on October 7 covering stablecoins, asset tokenization and decentralized…
Kazakhstan Taps Tether to Explore a New Tenge Stablecoin Model
Kazakhstan already has a tenge stablecoin in a central-bank sandbox. Now it has brought Tether into the room to study another one. Tether, the National Bank of Kazakhstan, and the Alatau City Authority signed an exploratory memorandum on Wednesday covering a possible tenge-pegged stablecoin, asset tokenization, and decentralized finance (DeFi). No coin has been approved, […]
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