Tether works with Kazakhstan’s central bank to explore tenge stablecoins and tokenized assets
The partnership would support Kazakhstan's plans for financial innovation and digital infrastructure across Central Asia.
Tether is working with Kazakhstan’s National Bank and the Alatau City Authority to explore stablecoin development, real-world asset tokenization and decentralized finance under a new memorandum of understanding, the stablecoin issuer said Wednesday.
The partnership aims to support the digital finance infrastructure in Kazakhstan, which has established itself as Central Asia’s leading digital and fintech hub. The country has widespread digital government services, a fast-growing technology sector and growing ambitions to become a regional center for digital payments.
“The use cases for digital assets are evolving into real-life applications and, ultimately, into sovereign-level financial infrastructure. Kazakhstan is taking a deliberate, forward-looking approach by exploring asset tokenization and a strategic reserve framework,” Tether CEO Paolo Ardoino said. “Our goal is to build efficient, transparent, and sustainable digital finance infrastructure, while protecting data and privacy.”
The parties will examine the international stablecoin issuance models and develop a proposal for a potential tenge-backed stablecoin pilot, Tether stated.
They will also work on a framework for tokenized assets in Kazakhstan, potentially using Tether’s Hadron platform. The initiative will include identifying priority asset categories, designing a tokenization model and launching a pilot project within Alatau City, while drawing on international regulatory and technological experience.
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National Bank Deputy Governor Binur Zhalenov said international technology partnerships could support the development of Kazakhstan’s financial infrastructure, while the bank would continue to prioritize stability, transparency and investor protection.
Tether, the central bank and the city authority will conduct workshops and training programs focused on stablecoins, digital assets, reserve management and real-world asset tokenization. The programs will also help develop digital finance expertise among government and central bank personnel.