- The National Bank of Kazakhstan said it will pursue a pilot project to tokenize part of its gold holdings.
- The central bank also said it will pursue a QR code-based digital asset payment system and a tenge (KZT)-linked stablecoin project.
- The Kazakh government has shown a cautious stance on allowing digital assets as a direct means of payment, so attention is needed to institutional changes.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The National Bank of Kazakhstan is planning a pilot project to tokenize part of its gold holdings.
On the 27th (Korean time), according to Cryptopolitan, a digital-asset specialist media, local Kazakh media reported that the National Bank of Kazakhstan (NBK) recently approved three digital asset-related pilot projects at a board meeting.
The core project is a program to tokenize the gold held by the NBK. The NBK holds a right of first purchase for all gold refined domestically, and has actively used this to expand its gold holdings. Kazakhstan has increased its gold holdings this year by purchasing at least 32 tons of gold.
However, the specific implementation details of the program have not yet been disclosed.
The NBK also plans to introduce a digital asset payment system using QR codes. Since the Kazakh government recently stated it will not permit digital assets to be used as a direct means of payment, QR payments are likely to be conducted via on- and off-ramps between digital assets and fiat currency.
In addition, the NBK is pursuing a project to issue and circulate a stablecoin linked to the national currency, the tenge (KZT).
