Tether Signs MoU With Kazakhstan’s Central Bank to Explore a Tenge Stablecoin

"Kazakhstan is taking a deliberate, forward-looking approach by exploring asset tokenization and a strategic reserve framework," said Tether CEO Paolo Ardoino. Tether has announced an agreement with the National Bank of Kazakhstan (NBK) to explore a stablecoin pegged to the tenge, the country’s national currency. The memorandum of understanding also includes the Alatau City Authority (ACA), which oversees regulation in the city of Alatau under its special legal regime. Tether, the NBK and the ACA will study international models for stablecoin issuance. They will then prepare a concept and a pilot proposal for the token. Tether’s release names no issuer, blockchain, or launch date for the proposed token. The parties will also pick priority asset categories and launch a tokenization pilot within Alatau’s jurisdiction. That pilot could run on Hadron, Tether’s tokenization platform. Likewise, the three parties will hold workshops and training for NBK specialists on issuance and reserve management. “Kazakhstan is taking a deliberate, forward-looking approach by exploring asset tokenization and a strategic reserve framework,” said Tether CEO Paolo Ardoino. Kazakhstan Plans $60 Million Al...