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Kazakhstan Central Bank Launches Pilot for Crypto Cards: A Major Step Toward Digital Asset Adoption
Kazakhstan’s central bank has officially launched a pilot program to issue crypto cards, enabling users to spend their cryptocurrencies at merchants that accept fiat currency. This bold move marks another milestone in the nation’s journey to integrate digital assets into its traditional financial system.
Bringing Crypto to the Mainstream
The National Bank of Kazakhstan (NBK) unveiled the initiative at a recent meeting in Almaty, where top officials, commercial banks, crypto exchanges, and fintech leaders gathered. The aim? To expand the use of digital assets like never before.
Under this pilot, crypto cards will be tied to wallets hosted by licensed crypto service providers, including those at the Astana International Financial Center (AIFC). When cardholders pay at a store, their crypto will be instantly converted to the national currency, tenge. The transactions will be settled by a cooperative effort between crypto platforms and commercial banks.
“This solution allows safe and convenient integration of digital assets into Kazakhstan’s existing payment infrastructure,” the NBK explained in a statement.
From Stablecoins to Tokenized Assets
The crypto cards are just the beginning. Kazakhstan has ambitious plans for the digital economy in 2025 and beyond:
Stablecoin Launch: The NBK is working on introducing a stablecoin backed by the national currency. This includes both the traditional tenge and its digital counterpart.
Asset Tokenization: Authorities also plan to digitize financial assets, real estate, and securities, creating new investment opportunities.
Regulatory Framework: The NBK has drafted legislative changes to allow for broader use of unsecured digital assets and establish rules for secured digital assets.
Kazakhstan’s Evolving Crypto Landscape
Previously known for its significant Bitcoin mining industry, Kazakhstan has historically taken a cautious stance on crypto. However, in the past year, the country has shifted gears:
✅ In May, the NBK announced that crypto trading will be legalized outside the AIFC hub, with a new licensing regime for exchanges.
✅ President Kassym-Jomart Tokayev recently revealed a pilot zone called “CryptoCity” to test crypto payments.
✅ The government aims to boost crypto-related tax revenue, which has already reached $35 million in just three years.
Looking Ahead
Kazakhstan’s proactive push into digital assets signals a broader commitment to modernizing its economy. With crypto cards set to hit the mainstream and other blockchain projects on the horizon, Kazakhstan is shaping up to be a serious player in the global digital finance ecosystem.
Square Binance is ready to help you stay ahead in this exciting landscape! Stay tuned for more updates on Kazakhstan’s journey into the future of crypto.$BTC
$ETH
$SOL
Bringing Crypto to the Mainstream
The National Bank of Kazakhstan (NBK) unveiled the initiative at a recent meeting in Almaty, where top officials, commercial banks, crypto exchanges, and fintech leaders gathered. The aim? To expand the use of digital assets like never before.
Under this pilot, crypto cards will be tied to wallets hosted by licensed crypto service providers, including those at the Astana International Financial Center (AIFC). When cardholders pay at a store, their crypto will be instantly converted to the national currency, tenge. The transactions will be settled by a cooperative effort between crypto platforms and commercial banks.
“This solution allows safe and convenient integration of digital assets into Kazakhstan’s existing payment infrastructure,” the NBK explained in a statement.
From Stablecoins to Tokenized Assets
The crypto cards are just the beginning. Kazakhstan has ambitious plans for the digital economy in 2025 and beyond:
Stablecoin Launch: The NBK is working on introducing a stablecoin backed by the national currency. This includes both the traditional tenge and its digital counterpart.
Asset Tokenization: Authorities also plan to digitize financial assets, real estate, and securities, creating new investment opportunities.
Regulatory Framework: The NBK has drafted legislative changes to allow for broader use of unsecured digital assets and establish rules for secured digital assets.
Kazakhstan’s Evolving Crypto Landscape
Previously known for its significant Bitcoin mining industry, Kazakhstan has historically taken a cautious stance on crypto. However, in the past year, the country has shifted gears:
✅ In May, the NBK announced that crypto trading will be legalized outside the AIFC hub, with a new licensing regime for exchanges.
✅ President Kassym-Jomart Tokayev recently revealed a pilot zone called “CryptoCity” to test crypto payments.
✅ The government aims to boost crypto-related tax revenue, which has already reached $35 million in just three years.
Looking Ahead
Kazakhstan’s proactive push into digital assets signals a broader commitment to modernizing its economy. With crypto cards set to hit the mainstream and other blockchain projects on the horizon, Kazakhstan is shaping up to be a serious player in the global digital finance ecosystem.
Square Binance is ready to help you stay ahead in this exciting landscape! Stay tuned for more updates on Kazakhstan’s journey into the future of crypto.$BTC
$ETH
$SOL
Bitcoin Turning Point$BTC
$SOL
In a move that has sparked considerable debate, the German government sold nearly 50,000 Bitcoin (BTC) between June and July 2024 at an average price of approximately $57,900 per coin, totaling around $2.89 billion . These Bitcoins were originally seized by the German Federal Criminal Police Office (BKA) from the operators of the piracy website Movie2k.
As of May 2025, Bitcoin's price has surged to over $104,700, meaning that if the German government had retained the Bitcoins, their value would have reached approximately $5.24 billion. This indicates a missed potential gain of about $2.35 billion .
The decision to sell was likely driven by a desire for quick liquidity, but the timing proved unfavorable. Critics argue that the sale demonstrates a poor understanding of the crypto market's volatility and growth potential. Had the government waited for the market upswing, it could have secured significantly higher returns for its treasury .
This event underscores the complexities involved in managing digital assets and raises broader questions about whether states should view Bitcoin as a short-term asset to liquidate or as a long-term store of value similar to gold. Germany's experience serves as a cautionary tale for other governments and institutions handling large cryptocurrency holdings .
Currently, Bitcoin (BTC) is trading at approximately $105,711, reflecting the significant appreciation since the German government's sale.$ETH
$SOL
In a move that has sparked considerable debate, the German government sold nearly 50,000 Bitcoin (BTC) between June and July 2024 at an average price of approximately $57,900 per coin, totaling around $2.89 billion . These Bitcoins were originally seized by the German Federal Criminal Police Office (BKA) from the operators of the piracy website Movie2k.
As of May 2025, Bitcoin's price has surged to over $104,700, meaning that if the German government had retained the Bitcoins, their value would have reached approximately $5.24 billion. This indicates a missed potential gain of about $2.35 billion .
The decision to sell was likely driven by a desire for quick liquidity, but the timing proved unfavorable. Critics argue that the sale demonstrates a poor understanding of the crypto market's volatility and growth potential. Had the government waited for the market upswing, it could have secured significantly higher returns for its treasury .
This event underscores the complexities involved in managing digital assets and raises broader questions about whether states should view Bitcoin as a short-term asset to liquidate or as a long-term store of value similar to gold. Germany's experience serves as a cautionary tale for other governments and institutions handling large cryptocurrency holdings .
Currently, Bitcoin (BTC) is trading at approximately $105,711, reflecting the significant appreciation since the German government's sale.$ETH
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