Tether Discusses Stablecoin Issuance with Kazakhstan Central Bank and Local Government

On Oct. 8, citing Cointelegraph, that Tether has signed a memorandum of understanding with the National Bank of Kazakhstan and Alatau City Authority to jointly explore a tenge-pegged stablecoin and real-world asset tokenization. The parties will study international stablecoin issuance models, identify potential application scenarios, and propose a pilot project for a tenge stablecoin.

The agreement also covers the development of a framework for asset tokenization, with plans to launch a pilot initiative in the Alatau region through Tether's Hadron platform. The three parties will jointly host training and seminars on stablecoin issuance, reserve management, and asset tokenization. Binur Zhalenov, Vice President of the National Bank of Kazakhstan, stated that the central bank will prioritize financial stability, transaction transparency, and investor protection in its research.

This development marks Kazakhstan's accelerated advancement of its digital asset strategy. In September, the government approved a comprehensive plan comprising 65 measures across 10 key focus areas, including expanding real-world asset tokenization, developing digital payments, and cryptocurrency mining.