Kazakhstan Central Bank Partners With Tether to Explore Tenge Stablecoin and Asset Tokenization

Kazakhstan’s central bank has partnered with Tether and the Alatau City Authority to explore a national currency-backed stablecoin and asset tokenization. The agreement outlines plans to examine blockchain payment systems, digital asset issuance, and financial infrastructure within Kazakhstan.

According to Tether’s announcement, the three organizations signed a memorandum of understanding covering stablecoin development and real-world asset tokenization. Their cooperation will also examine international stablecoin models and potential applications within Kazakhstan’s financial system.

The proposed stablecoin would link its value to the Kazakhstani tenge, creating another potential application for blockchain-based national currency payments. Partners will assess operational requirements before determining the structure and scope of a possible pilot program.

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Tether and Kazakhstan Central Bank Outline Stablecoin Pilot Requirements

Under the agreement, participating institutions will examine reserve management, transaction transparency, and safeguards for users and investors. These areas will form part of their assessment of possible stablecoin operations and related financial services.

Additionally, Tether will organize workshops covering stablecoin infrastructure, tokenization processes, and the technical requirements supporting blockchain-based financial products. Representatives from participating organizations will use these sessions to examine implementation models and operational considerations.

The cooperation also covers identifying real-world assets that could support tokenized financial instruments within Kazakhstan. Alatau City could host an initial asset tokenization pilot using Hadron, Tether’s infrastructure for issuing and managing tokenized assets.

Through this arrangement, the partners will assess how blockchain infrastructure could support asset issuance and financial transactions. Their work will include evaluating potential applications before selecting projects for implementation.

Kazakhstan Advances Digital Asset Plans With Alatau Tokenization Initiative

The partnership forms part of Kazakhstan’s wider digital asset development program, which includes cryptocurrency mining, payments, and international settlements. In September, authorities approved a 65-measure development plan covering several areas of the country’s digital economy.

Officials also outlined plans for a $60 million tokenization pilot involving projects connected to Alatau City. This initiative places the city within Kazakhstan’s broader efforts to develop blockchain-based financial infrastructure.

Besides tokenization, Kazakhstan has examined opportunities to integrate cryptocurrency mining with existing energy infrastructure and related industrial operations. The country also ranked among major Bitcoin mining markets during 2025, reflecting its established involvement in cryptocurrency production.

Kazakhstan’s National Strategic Crypto Reserve has reached $700 million, adding another component to the country’s digital asset activities. Meanwhile, the central bank’s cooperation with Tether introduces a separate initiative covering stablecoin research and asset tokenization.

Conclusion

Kazakhstan’s agreement with Tether and the Alatau City Authority establishes cooperation on a possible tenge-backed stablecoin and tokenized assets. The partners will examine technical requirements, operational safeguards, and potential pilot projects under the memorandum of understanding.

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