Kazakhstan’s Central Bank Partners with Tether to Explore Stablecoin

explore stablecoin — The National Bank of Kazakhstan (NBK) has signed a memorandum of understanding with stablecoin issuer Tether to explore the development of a local currency-linked stablecoin and asset tokenization projects.

The agreement, also involving the Alatau City Authority, will see the parties study potential use cases for digital money and develop a framework for tokenizing real-world assets. A pilot project is planned under Alatau City’s special legal regime.

The collaboration will specifically examine the creation of a digital tenge-pegged stablecoin. It will also research decentralized finance applications and the tokenization of assets, with Tether’s Hadron tokenization platform potentially being utilized.

The memorandum is a preliminary step and does not commit Kazakhstan to issuing a stablecoin or adopting the technology. The move represents a significant exploration of digital asset infrastructure by a national central bank in partnership with a leading private-sector crypto firm.