The National Bank of Kazakhstan has launched a project for crypto cards in the AIFC.
The cards will allow payments through instant sale of crypto assets.
Pilot projects for tokenization and stablecoins are also planned for 2025.
Representatives of the National Bank of Kazakhstan held a meeting with banks, cryptocurrency exchanges, and fintech companies. The main topic was the discussion of new economic services based on tokenization and digital assets.
In particular, the project for crypto cards integrated into the ecosystem of the Astana International Financial Centre has been launched. They will allow payments for goods and services in digital assets.
"This solution provides the opportunity for a safe and convenient integration of digital asset turnover into the existing payment infrastructure," emphasized the National Bank.
Crypto cards will be linked to wallets on European platforms licensed by the AIFC. When making payments, the user's digital assets will be instantly sold, and the funds credited to the card. Thus, the transaction will occur in fiat money but will be initiated from the cryptocurrency balance.
Such a mechanism will ensure ease of transactions within the existing banking infrastructure, according to the National Bank. The immediacy of operations will be achieved through integration with banks and special gateways of the AIFC, the National Bank clarified.
In addition to cards, Kazakhstan plans to launch stablecoins pegged to the tenge for cryptocurrency transactions in 2025. Projects for tokenization of assets, real estate, and the issuance of tokens equivalent to securities are also planned.
Additionally, systems for accounting equipment for digital objects, exchange and storage services for crypto assets are being developed, officials said. All these steps, according to authorities, are aimed at economic development and increasing the legality of crypto services in the country.
