Tether has signed a non-binding Memorandum of Understanding with the National Bank of Kazakhstan and the Alatau City Authority on October 7, 2026. The partnership aims to explore the development of a stablecoin pegged to the tenge, as well as asset tokenization and decentralized finance initiatives.
The collaboration includes plans for tokenization pilots in Alatau City, potentially utilizing Tether’s Hadron platform. These efforts focus on converting real-world assets, such as the Iconic Tower and the Birlik logistics center, into digital tokens. Kazakhstan aims to tokenize up to $60 million in projects by the end of 2026.
The agreement also covers research into international regulatory models for stablecoin issuance and educational workshops. This initiative follows a separate agreement signed on October 2, 2026, between the Kazakhstan Stock Exchange and the Alatau City Authority to develop platforms for digital financial assets and multi-currency settlement tools.
Alatau City is simultaneously collaborating with Dunamu on real asset tokenization. While the agreement with Tether establishes a framework for cooperation, the development of a tenge-backed stablecoin remains in the exploratory phase rather than a finalized product launch.
