Kazakhstan is making a decisive move into digital finance. The country’s National Bank has announced the pilot launch of Evo (KZTE) — a stablecoin pegged to the tenge. The initiative, developed in partnership with the Solana blockchain ecosystem and global payments giant Mastercard, aims to bridge the gap between the crypto economy and traditional finance, according to Cointelegraph, cited by Minfin.
First-Ever Central Bank Role in Stablecoin Issuance
The new stablecoin is already operating within the central bank’s regulatory “sandbox.” Issuers include the local crypto exchange Intebix and Eurasian Bank.
“This is the first time a central bank has played an active role in the issuance of a stablecoin,” emphasized Intebix founder Talgat Dosanov.
Mastercard and Solana’s Contribution
Mastercard will provide global connectivity for KZTE by linking it to international stablecoin issuers. The project’s technological backbone is built on Solana, chosen for its high transaction speed and scalability.
How Evo (KZTE) Will Function
Marketed as a “national stablecoin,” Evo is designed to create a seamless bridge between digital assets and fiat money. Key use cases include:
- Exchange operations between cryptocurrencies and fiat;
- Payments via crypto-enabled cards;
- Development of Kazakhstan’s domestic digital asset ecosystem.
The launch of KZTE is part of the National Bank’s long-term strategy to build a domestic digital finance infrastructure and foster innovation across the country’s financial sector.
Джерело інформації та фото: minfin.com.ua