Interesting move from Kazakhstan. 🔸 Crypto cards + stablecoins backed by national currency — a CBDC model without the bureaucracy. Watching the AIFC pilot closely. This could become a blueprint for other countries. 

According to PANews, the National Bank of Kazakhstan has announced the launch of its cryptocurrency card initiative, a key component of its digital asset integration project. These cards enable users to make cashless purchases and are linked to wallets containing cryptocurrencies, which can be converted into cash during transactions. This allows merchants to receive payments after selling these digital assets. The transactions will be processed by exchanges located at the Astana International Financial Center, a national financial hub.

The bank also highlighted plans to introduce additional digital asset initiatives later this year. These include the issuance of stablecoins backed by the national currency and the tokenization of financial assets.