Tether has signed a memorandum of understanding with the National Bank of Kazakhstan and the Alatau City Administration to study stablecoin development, asset tokenization, and decentralized finance use cases in the country. The three parties said they will examine international models for stablecoin issuance, review possible applications, and draft a concept and pilot plan for a stablecoin linked to Kazakhstan’s national currency, the tenge. The agreement also covers digital financial infrastructure tied to that work. In parallel, the parties will work on a framework for asset tokenization in Kazakhstan, including an assessment of whether Tether’s tokenization platform Hadron could be used. The plan also includes designing tokenization models within Alatau city’s jurisdiction, identifying priority asset classes, and launching pilot projects. Tether CEO Paolo Ardoino said Kazakhstan is exploring asset tokenization and a strategic reserve framework, while National Bank of Kazakhstan Deputy Governor Binur Zhalenov said financial stability, transaction transparency, and investor protection remain the top priorities.
Tether has signed a memorandum of understanding with the National Bank of Kazakhstan (NBK) and the Alatau City Administration (ACA) to explore stablecoin development, asset tokenization, and decentralized finance, according to Tether News cited by Odaily on Oct. 7.
Work will cover a tenge-linked stablecoin concept and pilot plan
Under the agreement, the three parties will jointly study international models for stablecoin issuance and review potential use cases. They also plan to draft a concept and pilot framework for a stablecoin linked to Kazakhstan’s national currency, the tenge, and build related infrastructure to support digital finance development.
Tokenization framework and Hadron assessment are also included
The memorandum also covers the development of an asset tokenization framework for Kazakhstan. That includes evaluating the possible use of Hadron, Tether’s tokenization platform, as well as designing tokenization models within Alatau city’s jurisdiction, identifying priority asset categories, and launching pilot projects.
Executives outline priorities
Tether CEO Paolo Ardoino said Kazakhstan is exploring asset tokenization and a strategic reserve framework.
Binur Zhalenov, deputy governor of the National Bank of Kazakhstan, said financial stability, transaction transparency, and investor protection are the top priorities.
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