Summary
- The National Bank of Kazakhstan announced that it is starting a pilot stablecoin project.
- The project is being carried out in cooperation with Mastercard, Solana (SOL), and stated that the stablecoin 'Evo (KZTE)' will be linked to the tenge.
- The central bank said it will promote the development of the virtual asset market through this project.
The National Bank of Kazakhstan is starting a pilot project for a stablecoin linked to the local currency.
According to Cointelegraph on the 23rd (local time), the National Bank of Kazakhstan is launching a pilot stablecoin project in cooperation with Mastercard and Solana (SOL).
The stablecoin to be launched through this project is 'Evo (KZTE)', and it will be linked to Kazakhstan's legal tender, the tenge. The issuance of Evo will be handled by the local virtual asset (cryptocurrency) exchange Intebix and Eurasian Bank.
The National Bank of Kazakhstan said in a statement, "Through this project we will build a national-level digital ecosystem" and "we will also promote the development of Kazakhstan's virtual asset market."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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