According to Cointelegraph on the 23rd (local time), the Central Bank of Kazakhstan announced that it would allow the use of local fiat currency as part of its Digital Asset Regulatory Sandbox project.
The stablecoin, Evo (KZTE), which is linked to the tenge, was released on the blockchain by the cryptocurrency exchange Î
The cryptocurrency will be issued by Interbix and local bank Eurasia Bank, with technical support provided by Solana and Mastercard.
“The KZTE stablecoin is a platform for the Sol,” Înterbix founder Talgat Dossanov said in an interview with Cointelegraph.
It will be operated on the ANA blockchain platform, and Mastercard will work with global stablecoin issuers to help expand the payment network."
Evo Stablecoin is called a "national stablecoin" and aims to link innovation in crypto assets with traditional finance. The main use cases are the expansion of the crypto asset-fiat currency channel.
These include supporting cryptocurrency transactions, cryptocurrency card payments, etc. The central bank will provide a regulatory framework and assist with issuance and testing.
Timur Suleimenov, Governor of the Central Bank of Kazakhstan, said on the same day that
At the launch event, he said, "Today, we are releasing the first stablecoin denominated in the national currency, the Tenge, within a central bank's regulatory sandbox." He added, "The digital age is full of challenges.
"Digital assets and blockchain will play an important role in providing new financial services, expanding financial inclusion, and promoting national development," he stressed.
Meanwhile, Kazakhstan will become one of the world's leading mining countries in terms of Bitcoin (BTC) mining hash rate in 2022, and will also be the first country to launch a central bank digital currency (CBDC).
The central bank will release its digital tenge (CBDC) in November 2023, improving the efficiency of processes such as value-added tax refunds.
2025/09/24 16:35 KST
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