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BTC TETHER has signed a memorandum of understanding with the Central Bank of Kazakhstan and the Municipal Government of Aratau to explore Tenge stablecoins and asset tokenization
TETHER has signed a memorandum of understanding with the National Bank of Kazakhstan and the Municipal Authorities of Aratau, aiming to jointly research and develop a stablecoin linked to Tenge of Kazakhstan. In addition, the agreement will also promote cooperation among all parties in the field of real-world asset tokenization.
stablecoin pilot and asset tokenization framework
According to TEDA's disclosure, this cooperation involves studying international stablecoin models, identifying feasible local use cases, and preparing a proposal on Tenge's support for the stablecoin pilot. The agreement outlines the establishment of a comprehensive asset tokenization framework, including selecting suitable real-world assets for preliminary trials and deploying pilot projects on Alatau's Hadron platform that utilizes TEDA.
The Hadron platform is TEDA's solution for issuing and managing tokenized real-world assets, aiming to bridge traditional financial and blockchain technologies. The platform facilitates the seamless integration of asset-based tokens in the digital ecosystem.
Noun explanation: The TEDA Hadron platform is a blockchain-based platform that supports the tokenization of traditional financial assets, allowing them to be represented and transferred in the form of digital tokens.
Alatau's pilot project may serve as a test bed for promoting broader asset tokenization within Kazakhstan, and through targeted training and seminars, popularize relevant knowledge such as reserve management, stablecoin issuance and digital asset frameworks to stakeholders.
Regulation and Development Plan
Binur Zhhalenov, Deputy Governor of the National Bank of Kazakhstan, said that the central bank plans to review global stablecoins and tokenization practices. He emphasized that Kazakhstan's focus will remain on financial stability, transaction transparency and investor protection.
Binur Zhalenov pointed out that while the country investigates opportunities for stablecoin issuance and asset tokenization, financial stability, transaction transparency and investor protection remain priorities.
As the world's largest landlocked country, Kazakhstan accelerated its digital asset initiative in 2024. In September, the government approved a plan covering ten areas and containing 65 different measures to boost its digital asset industry. These measures involve expanding tokenization of real-world assets, improving digital payment infrastructure, strengthening international settlement, and supporting cryptocurrency mining activities.
To promote growth in the mining sector, the Departments of Energy and Digital Development were asked to develop mechanisms to enable mining centers to use gas-fired and coal-fired power generation facilities.
Kazakhstan's position in cryptocurrencies and digital assets
Kazakhstan has become a prominent participant in the field of digital asset innovation. According to reports, the country's strategic encryption reserves have reached US$700 million. The central bank's regulatory sandbox played a key role, with a total of 34 digital projects successfully completing the testing phase. This regulatory environment makes Kazakhstan a very attractive region for blockchain development and crypto operations.
In 2025, Kazakhstan ranks among the top ten countries in the world for bitcoin producers, reflecting its important position in the global mining landscape. According to BitcoinTreasuries.net, the government holds approximately 3,544 bitcoins worth approximately US$294 million, ranking seventh among national bitcoin reserves in the world.
TEDA, the Central Bank of Kazakhstan and the city authorities of Aratau plan to jointly develop projects and seminars on practical aspects of stablecoin issuance and tokenization of traditional assets in the local context.
