Kazakhstan and Tether sign research agreement for possible tenge stablecoin
The National Bank of Kazakhstan, Tether, and Alatau City Authority signed an agreement on October 7, 2026, to study digital money and tokenized assets. The work focuses on a possible stablecoin pegged to the Kazakhstani tenge, but the memorandum does not authorize issuance. The partnership also covers tokenization pilots in Alatau, international research, and training for public-sector staff.
The October 7, 2026 memorandum joins Kazakhstan’s central bank, Tether, and the Alatau City Authority. It covers research into stablecoins, asset tokenization, and decentralized finance, plus preparation of pilot proposals. The tenge-linked token remains only a concept; no issuance approval is included.
Kazakhstan’s rules took effect May 1, 2026, recognizing money-backed stablecoins, tokenized real-world assets, and digital forms of traditional instruments, with standards for capital, risk, compliance, and anti-money-laundering. A September 2025 sandbox trial, involving Intebix, Solana, Mastercard, and Eurasian Bank, tested KZTE/Evo for conversions and card payments. Alatau pilots may use Tether’s Hadron.
If research advances, Kazakhstani households and firms could gain faster, lower-cost digital payments and tokenized asset access, while banks and fintechs may face new competition and compliance duties. Public-sector staff may benefit from training. Yet because no issuance is authorized, near-term effects may be limited to study, pilot design, and regulatory capacity.