According to Cointelegraph, Kazakhstan's sovereign wealth fund plans to include cryptocurrencies as part of the national reserves. National Bank Governor Timur Suleimenov stated that the central bank is exploring high-yield investment strategies, including investments in crypto-related funds.
Suleimenov mentioned investment models from Norway, the United States, and the Middle East, where sovereign wealth funds and governments hold crypto assets or stakes in related companies. Kazakhstan also plans to establish a national crypto asset reserve using digital assets seized by law enforcement agencies.
The Kazakh government is striving to become a crypto hub in Central Asia by launching a pilot zone for digital asset payments and the digital Tenge. Nevertheless, cryptocurrency adoption at the retail level remains limited. According to Chainalysis's 2024 Global Crypto Adoption Index, Kazakhstan ranks 57th out of 151 countries.
