Tether has signed an agreement with Kazakhstan’s central bank and Alatau city authorities to explore a Teng-pegged stablecoin and tokenization of real-world assets.
Under the memorandum of understanding, the parties will study international stablecoin issuance models, identify potential use cases and develop a proposal for a Tenge-backed stablecoin pilot, according to Tether.
D contract It also calls for the development of an asset tokenization framework, including identifying assets for potential tokenization and launching in Alatau a pilot project that could use the Tether Hadron platform.
Tether, the National Bank of Kazakhstan and Altau City Authority will also hold workshops and training programs covering stablecoin issuance, reserve management and real-world asset tokenization.
Binur Zhalenov, deputy governor of the National Bank of Kazakhstan, said the central bank plans to study international methods of stablecoin issuance and tokenization, while prioritizing financial stability, transaction transparency and investor protection.
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Kazakhstan expands digital asset push
Kazakhstan, the world’s largest landlocked country, has accelerated its push into digital assets this year, launching initiatives including stablecoins, tokenization, crypto payments and mining.
In September, the government approved a 65-measure the plan Aimed at developing the country’s digital assets industry across 10 sectors. The plan includes measures to expand real-world asset tokenization, digital payments, international settlements, and crypto mining.
The government has directed the energy and digital ministries to develop a mechanism to use gas- and coal-fired power generation to supply mining stations. Kazakhstan ranks among the top 10 countries in the world for Bitcoin production in 2025, according to the government.
Kazakhstan’s national strategic crypto reserve, meanwhile, reached $700 million, while 34 digital asset projects completed testing in the central bank’s regulatory sandbox, according to the announcement.
BitcoinTreasuries.net ranks Kazakhstan seventh among governments for bitcoin holdings, with an estimated 3,544 BTC worth $294 million.
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