Kazakhstan enters the digital currency era with the official launch of the digital tenge. NPC Chairman, Binur Zhalenov, conducts the inaugural transaction using the CBDC at the XI Congress of Finance. The digital tenge promises global accessibility through collaborations with Visa and Mastercard, marking a significant leap in Kazakhstan’s financial landscape.
Kazakhstan’s National Payment Corporation (NPC) Chairman, Binur Zhalenov, executed the first transaction with the newly launched digital tenge at the XI Congress of Finance in Almaty. This milestone event signifies the official entry of Kazakhstan into the digital currency realm. Zhalenov highlighted the collaboration with global giants Visa and Mastercard, enabling digital tenge payments worldwide via platforms like Apple Pay and Samsung Pay.
The digital tenge, introduced in February 2023, is set for extensive development in 2024, focusing on programmable features for smart contracts and innovative financial services. Zhalenov envisions offline payments in 2024 and foresees the digital tenge’s integration into cross-border trade by 2025. The NPC, established in September, spearheads the CBDC’s development.
Simultaneously, Kazakhstan intensifies its oversight on the crypto market, with recent actions tightening regulations and addressing issues related to major international exchanges and crypto mining taxation.
