Key Points:

The National Bank of Kazakhstan introduced KZTE, a stablecoin backed by the Kazakhstani tenge.

The project is being launched in partnership with Mastercard, Intebix, and Eurasian Bank.

KZTE is issued on the Solana blockchain, aiming to expand digital payments and financial innovation.

According to Foresight News, the National Bank of Kazakhstan has officially launched KZTE, the country’s first stablecoin backed by the national currency, the tenge (KZT). The rollout is supported by Mastercard, Intebix, and Eurasian Bank, marking a major step in Kazakhstan’s digital asset and fintech development strategy.

Built on the Solana blockchain, KZTE aims to boost efficiency in digital payments and cross-border transactions while expanding adoption of blockchain-based financial services across the region.