Tether has signed a Memorandum of Understanding (MoU) with the National Bank of Kazakhstan (NBK) and the Alatau City Authority (ACA) to explore opportunities in stablecoin development, asset tokenization, and decentralized finance. The agreement marks a collaborative effort to study digital finance infrastructure and evaluate how blockchain-based financial tools could be applied within Kazakhstan’s regulatory and economic environment.
The initiative brings together Tether, a major participant in the digital asset industry, Kazakhstan’s central bank, and the government authority responsible for the development and administration of Alatau City, which has been positioned as a center for digital innovation and financial technology in Central Asia.
Kazakhstan Stablecoin Initiative Focuses on Digital Finance Infrastructure
Under the MoU, the parties will work on developing the foundations required to support digital finance in Kazakhstan. A key area of focus is the evaluation of international stablecoin models and the identification of practical use cases within the country.
As part of this process, the organizations will jointly prepare a concept and pilot proposal for a stablecoin pegged to the Kazakhstani tenge. The study will examine how stablecoins are issued and managed in other jurisdictions and assess potential applications that align with Kazakhstan’s financial system objectives.
The National Bank of Kazakhstan, which is responsible for monetary policy, payment system oversight, and financial system stability, emphasized that financial stability, transaction transparency, and investor protection will remain central considerations throughout the initiative.
According to Binur Zhalenov, Deputy Governor of the National Bank of the Republic of Kazakhstan, the collaboration will provide an opportunity to study international approaches to both stablecoin issuance and real-world asset tokenization while maintaining a strong focus on investor safeguards and market integrity.
Asset Tokenization and Education Form Part of the Agreement
The agreement also includes plans to develop an asset tokenization framework in Kazakhstan. As part of this effort, the parties will evaluate the potential use of Hadron by Tether, the company’s tokenization platform.
The framework will draw on international regulatory and technological experience to identify priority asset classes suitable for tokenization. The parties also intend to design a conceptual tokenization model and launch a pilot project within the jurisdiction of Alatau City.
Beyond technology development, the MoU places significant emphasis on knowledge transfer and capacity building. Tether, the NBK, and the ACA will organize educational workshops, seminars, and training programs covering the global stablecoin market, reserve management models, digital asset ecosystems, and the tokenization of real-world assets using distributed ledger technology.
These programs are intended to support the professional development of NBK specialists and other relevant government stakeholders involved in the country’s digital finance initiatives.
Commenting on the partnership, Tether CEO Paolo Ardoino noted that digital assets are increasingly moving toward real-world applications and sovereign-level financial infrastructure. He highlighted Kazakhstan’s interest in exploring asset tokenization and a strategic reserve framework while emphasizing goals related to efficiency, transparency, sustainability, data protection, and privacy.
The agreement reflects Kazakhstan’s ongoing evaluation of digital finance opportunities and establishes a framework for research, pilot projects, and education related to stablecoins and tokenized assets.