Kazakhstan progresses with a dual-track approach to digital assets, which pilot the Central Bank Digital Currency (CBDC) while also supporting a state-link Stablecoin.
In September, the National Bank of Kazakhstan Evo Stablecoin launched in collaboration Along with Solana and Mastercard, who marked one of the first cases of stablecoin development worldwide. The central bank also progresses to its its CBDC, Digital Tengelaunched in 2023.
“When discussing Evo Stablecoin and the Digital Tenge, we do not see the competition, but instead of opportunities for integration and interoperability,” Berik Sholpankulov, representative of the governor of the National Bank of Kazakhstan, told Cointelegraph on Tuesday.
Sholpankulov said Kazakhstan’s digital pilot continues and actively incorporates new participants and projects, while lawmakers are working to promote digital Tene as legal soft, making it equivalent to Fiat money.
Stablecoins for ecosystems, CBDC for interbank settlements
Sholpankulov described the private issued of Stablecoins, such as the EVO of Kazakhstan, as the tokens are tied to specific ecosystems, with distribution depending on the number of participants.
In contrast, the digital ear, released by the National Bank, is recognized as legal soft and expected to play an important role in interbank communities.
“When the regulatory framework is fully in the area, the digital Tenge will enter circulation as a form of payment and as a guarantee on behalf of the National Bank,” he said. He added that the CBDC can provide a foundation for private companies and fintech startups to come up with solutions indirectly dependent on banks.
Two tier systems
Talgat Dossanov, founder of the Intebix Exchange, who issued EVO Stablecoin in collaboration with the Eurasian Bank, shouted Sholpankulov’s views on digital rivalry and Evo Stablecoin’s supported conflict.
“These initiatives are not required in the competition,” Dossanov told cointelegraph, adding that digital tenge and Evo Stablecoin could occupy various niches and complement each other.
“Digital Tenge strengthens the role of the central bank and the country’s financial sovereignty, while Stablecoin accelerates integration in the global crypto market, attracts international projects, and provides a convenient instrument for cross-border payments,” he said.
“Their unity can be seen as a ‘two-tier system’: the digital ear that serves as a financial policy tool and interbank settlement, while Stablecoin acts as a practical instrument for businesses and consumers.”
Responding to the decision of the Trump administration Prohibition on CBDCs in favor of stablecoinsDossanov said there are many countries-especially emerging markets or those with less stable money-still finding CBDCs to ensure to ensure financial sovereignty and reduce hope for foreign currencies and foreigners supported by foreigners.
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“For Kazakhstan, the main purpose of digital tenge as a CBDC is to ensure the independence and sovereignty of the national payment infrastructure,” Sholpankulov said.
The Central Asia’s Crypto Hub
Kazakhstan’s parallel rollout reflects its broader ambition to become the leading crypto hub of Central Asia.
The country has Paying the payment of regulatory fees to StablecoinsAs the USDT (USDT), launched One of the first place in Central Asia (Btc) funds, and moves to establish a Crypto Reserve Reserve.
The Kazakh government also maintains close ties with major global exchanges such as Binance, Approval of a Crypto fund with BNB (Bnb) exposure to late September.
On Thursday, National Bank of Kazakhstan chairman Timur Suleimenov recognized Former Binance CEO Changpeng “CZ” Zhao to discuss the launch of a new KZTX Stablecoin, tokenization initiatives and alatau city change projects.
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On the same day, Telegram’s co-founder Pavel Durov recognized Kazakhstan president Kassym-Jomart Tokayev at the Digital Bridge 2025 Forum, announcing plans to create an AI research lab in Astana. Tokayev also met separately Together with Zhao, he featured his role in advancing the global crypto industry.
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