Kazakhstan Unveils Digital Tenge in Limited Pilot Mode With First-Ever Retail Transaction


19 Nov 2023 5:18 AM

Kazakhstan's NPC expects to adopt the digital tenge in cross-border trade by 2025....

  • Kazakhstan's National Bank plans to adopt the digital tenge, its central bank digital currency (CBDC), for cross-border trade by 2025.
  • The pilot phase of the digital tenge involved collaboration with second-tier banks and their clients.
  • Payment giants Visa and Mastercard will support the integration of digital tenge on cards.
  • The digital tenge offers versatility for applications like smart contracts, financial services, and digital asset transactions.
  • The complete rollout of the digital tenge is expected to conclude by the end of 2025, with expanded services and increased involvement of platform participants.
  • Research suggests that CBDC payments globally could reach a value of $213 billion annually by 2030.

The sentiment of the article is generally positive, highlighting the progress and potential benefits of Kazakhstan's digital tenge and CBDCs in general.

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You May Ask

When does Kazakhstan expect to adopt the digital tenge for cross-border trade?Which payment giants are supporting the integration of digital tenge on cards?What are some applications of the digital tenge mentioned in the article?What is the projected value of CBDC payments globally by 2030?Which other countries are also developing their own CBDCs, according to the article?

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