Kazakhstan’s Digital Tenge Triumphs in CBDC Pilot

Kazakhstan’s digital tenge achieves success in CBDC pilot, demonstrating versatility from school lunches to cross-border payments. With ambitious goals for 2024, including expanded intermediary banks and enhanced security, the digital tenge emerges as a trailblazer in the evolving landscape of central bank digital currencies.

Kazakhstan Records Massive CBDC Test Success

In a month-long pilot, Kazakhstan’s CBDC, the digital tenge, showcased versatility by facilitating transactions, including providing schoolchildren with free lunches.

Kazpost played a crucial role as an intermediary, utilizing plastic cards issued by local banks, Visa, and Mastercard.

Interoperability achievements, such as integration into point-of-sale and QR systems, marked a notable success for the digital tenge.

The Digital Tenge and Plans for 2024

Looking ahead to 2024, the National Bank of Kazakhstan and NPCK outline ambitious goals.

Expansion of intermediary banks, development of decentralized finance applications, and a focus on offline transactions aim to enhance financial inclusion.

Participation in cross-border payment projects and regulatory objectives underscore Kazakhstan’s active role in the international CBDC landscape.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

Lastest

Coinbase Commerce Faces Backlash for Dropping Dogecoin Support

Coinbase Commerce discontinues support for native Bitcoin, Dogecoin,...

Digitex Futures Exchange CEO Faces US Charges for Bank Secrecy Act Violation

Adam Todd Indicted: CEO of Digitex Futures Exchange,...

Forbes Establishes Permanent Metaverse Presence with ‘Luxurious Pool’ and ‘Elegant Bar’

Forbes enters the metaverse with a permanent presence...

Virginia Senate Proposes $39K Annual Fund for Crypto and AI Commissions

Virginia Senate Proposal: Allocates $39,240 yearly for Blockchain...

Subscribe

spot_img

Related

Coinbase Commerce Faces Backlash for Dropping Dogecoin Support

Coinbase Commerce discontinues support for native Bitcoin, Dogecoin,...

Digitex Futures Exchange CEO Faces US Charges for Bank Secrecy Act Violation

Adam Todd Indicted: CEO of Digitex Futures Exchange,...

Forbes Establishes Permanent Metaverse Presence with ‘Luxurious Pool’ and ‘Elegant Bar’

Forbes enters the metaverse with a permanent presence...

Virginia Senate Proposes $39K Annual Fund for Crypto and AI Commissions

Virginia Senate Proposal: Allocates $39,240 yearly for Blockchain...

Cryptocurrency Exchange Fixedfloat Suffers $26 Million Hack in BTC and ETH

Automatic Exchange Hacked: Fixedfloat, a centralized cryptocurrency exchange,...
spot_imgspot_img

Coinbase Commerce Faces Backlash for Dropping Dogecoin Support

Coinbase Commerce discontinues support for native Bitcoin, Dogecoin, and Litecoin payments. Product lead Lauren Dowling cites consumer demand for an on-chain payments protocol...

Digitex Futures Exchange CEO Faces US Charges for Bank Secrecy Act Violation

Adam Todd Indicted: CEO of Digitex Futures Exchange, Adam Todd, charged with violating the Bank Secrecy Act. Illegal Operation: Allegations of illegally operating...

Forbes Establishes Permanent Metaverse Presence with ‘Luxurious Pool’ and ‘Elegant Bar’

Forbes enters the metaverse with a permanent presence on the Sandbox platform. The virtual experience boasts a luxurious pool, elegant bar, and a...