Tether has entered into a memorandum of understanding with the National Bank of Kazakhstan and the Alatau City Authority. The partnership aims to investigate the issuance of a stablecoin pegged to the tenge and establish a framework for the tokenization of real-world assets. The parties plan to analyze international models for stablecoin issuance and develop a proposal for a pilot project.
The collaboration includes the potential use of Tether’s Hadron platform for tokenization initiatives in Alatau. Additionally, the organizations will conduct workshops and training programs focused on reserve management, stablecoin issuance, and asset tokenization. Binur Zhalenov, Deputy Governor of the National Bank, stated that the bank intends to prioritize financial stability and investor protection.
Kazakhstan is actively expanding its digital asset sector, recently approving a 65-measure plan covering 10 areas, including digital payments and international settlements. The government has also tasked energy and digital ministries with creating power supply mechanisms for mining centers. In 2025, the country ranked among the top 10 nations globally for Bitcoin production.
The nation’s National Strategic Crypto Reserve is currently valued at $700 million. Furthermore, 34 digital asset projects have successfully completed testing within the central bank’s regulatory sandbox. According to BitcoinTreasuries.net, Kazakhstan holds approximately 3,544 BTC, with an estimated value of $294 million, placing it seventh among government holders.
