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Tether, Kazakhstan Plan Tenge Stablecoin Pilot
The exploratory pact will study issuance models and digital finance infrastructure as Kazakhstan tests a tenge-backed token and tokenized assets under its regulatory sandbox.
- On Wednesday, Tether signed a memorandum of understanding with The National Bank and the Alatau City Authority to explore a potential stablecoin pegged to the Kazakhstani currency and asset tokenization.
- Operating under a special legal regime designed to encourage investment and technology, Alatau City provides a unique environment for the project following constitutional framework updates effective July 1.
- Tether, issuer of USDT with about $140 billion in circulation, also manages the roughly $3.3 billion XAUT gold product. The parties may utilize Tether's Hadron platform to design the tokenization pilot.
- NBK Deputy Governor Binur Zhalenov emphasized "financial stability, transaction transparency, and robust investor protection" as key regulatory priorities for the exploratory agreement, which does not confirm immediate issuance.
- This collaboration continues The National Bank's efforts to integrate digital assets with existing financial infrastructure, building on a Kazakhstani currency-denominated stablecoin pilot launched in September 2025 through the regulatory sandbox.
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11 Articles
Tether has signed a memorandum of understanding with the National Bank of Kazakhstan to explore a tengo-based stablecoin and asset tokenization via the Hadron platform.
The exploration of stablecoins in Kazakhstan with Tether concerns a possible token anchored to the tenge, the Kazakh currency, but for now it is a study and not an approved launch. Key points The proposal of the token related to the tenge remains at an exploratory level. Alatau is the venue for the pilot tokening projects. The agreement includes the [...]
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