Tether Partners with Kazakhstan for Tenge-Pegged Stablecoin
- Tether signed a memorandum of understanding with the National Bank of Kazakhstan and Alatau City Authority to explore a stablecoin pegged to the tenge.
- Kazakhstan’s central bank allocated up to $350 million for crypto-linked investments in March, with the national crypto reserve reaching $700 million by September.
- The agreement includes plans for asset tokenization within Alatau using Tether’s Hadron platform, launched in November.
This collaboration aims to create a stablecoin linked to Kazakhstan’s currency and develop an asset tokenization framework in Alatau, a planned smart city. The initiative reflects Kazakhstan’s growing interest in integrating cryptocurrency into its financial systems.
With $700 million already invested in its national crypto reserve, Kazakhstan is positioning itself as a significant player in the cryptocurrency space through this partnership with Tether. (Source)
