Kazakhstan is making a bold move into the digital age, with plans to launch a state-backed cryptocurrency reserve and implement sweeping fintech reforms by 2026. President Kassym-Jomart Tokayev aims to integrate cryptocurrencies and tokenized assets into the country’s financial backbone, making Kazakhstan one of the few nations openly backing crypto at a national level.
National Crypto Reserve
In his latest address, Tokayev proposed the creation of a State Digital Asset Fund under the National Bank’s investment arm. This fund will hold a reserve of top cryptocurrencies and tokenized assets, essentially a digital treasure chest for the nation.
“Given the current realities, we must focus on crypto-assets. A State Digital Asset Fund should be established under the National Bank’s investment corporation. This fund would accumulate a strategic crypto reserve consisting of the most promising assets of the new digital financial system,” Tokayev said.
To make this vision possible, lawmakers are expected to pass a digital asset law by 2026, offering clear rules for tokenized platforms and fintech startups. Crypto influencer Mario Nawfal called this the “snowball effect,” where one country’s adoption sparks momentum worldwide.
Digital Tenge and CryptoCity
Kazakhstan is already ahead with its digital tenge, first piloted in 2023 and integrated into public budgets by 2025. It’s now used in financing government projects and could soon become a central tool for everyday payments.
Tokayev’s vision also includes CryptoCity in Alatau, a futuristic hub where crypto would be seamlessly used for groceries, bus tickets, and public services. He described it as “the future of Kazakhstan,” where technology blends with daily life.
Bitcoin ETF and Mining Power
In August, Kazakhstan launched Central Asia’s first spot Bitcoin ETF on the Astana International Exchange, giving investors a regulated way to gain exposure to Bitcoin. This complements its existing strength as a major Bitcoin mining hub, which at one point powered nearly 13% of the global network, though it has faced challenges like illegal mining and energy shortages.
Leading the Digital Finance Race
With a national crypto reserve, a functioning digital currency, an experimental CryptoCity, and the region’s first Bitcoin ETF, Kazakhstan is positioning itself as a digital finance trailblazer. If Tokayev’s ambitious plan succeeds, the country could set an example for how nations can integrate crypto into their economies and daily lives.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed