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.
17 Articles
17 Articles
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, […]
Tether and Kazakhstan’s Central Bank Discuss Tenge Stablecoin, Tokenization
Tether has signed a memorandum of understanding with Kazakhstan’s National Bank and the Alatau City Authority to explore a tenge-pegged stablecoin, as well as broader plans to tokenize real-world assets. The agreement centers on research into how stablecoins could fit into Kazakhstan’s financial system while aligning with public priorities such as transparency and investor protection. [...]
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