Kazakhstan's Central Bank Teams Up With Tether on Tenge-Backed Stablecoin Pilot

Kazakhstan's central bank has partnered with Tether and the Alatau City Authority to evaluate new uses for blockchain-based financial infrastructure, including a potential stablecoin linked to the tenge and a roadmap for tokenizing real-world assets nationwide. Under the cooperation, the parties will review stablecoin frameworks used internationally before shaping a possible pilot pegged to Kazakhstan's national currency. Workstreams also include identifying practical use cases that could enhance digital payments and financial services, with an emphasis on reserve management, transaction transparency, and investor protections. Tether is set to provide workshops on stablecoin operations and asset tokenization. The partners also plan to map which assets could be issued on-chain. Alatau may host an initial tokenization trial built on Tether's Hadron infrastructure. The agreement aligns with Kazakhstan's broader push into digital assets. In September, authorities approved a 65-measure development plan spanning payments, tokenization, mining, and international settlements. The country is also studying closer links between energy infrastructure and crypto mining and ranked among the top Bitcoin-producing markets in 2025. Kazakhstan's National Strategic Crypto Reserve is reported to have reached $700 million. Related: Paxos Adds XRP to Crypto Brokerage as Institutional Access Expands Advertise here Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for losses arising from the use of any content, products, or services referenced. Readers should exercise caution before taking action involving any company.