Tether signed a memorandum of understanding with the National Bank of Kazakhstan and the Alatau City Authority to explore stablecoin use cases, asset tokenization and decentralized finance. The cooperation could lead to a proposal for a tenge-pegged stablecoin and an asset-tokenization pilot under Alatau’s jurisdiction.

Potential tenge stablecoin

One area of cooperation will involve developing a concept and pilot proposal for a stablecoin pegged to Kazakhstan’s national currency, the tenge, according to Tether’s statement.

The participants also plan to study international stablecoin issuance models and identify potential use cases. National Bank Deputy Governor Binur Zhalenov said the regulator would examine international experience in stablecoin issuance and real-world asset tokenization during the pilots.

Zhalenov said financial stability, transaction transparency and investor protection would remain priorities.

Asset-tokenization framework

The parties will separately work on a framework for asset tokenization in Kazakhstan. They may use Hadron by Tether, the company’s asset-tokenization platform, for that work.

The project is expected to identify priority asset categories, develop a conceptual tokenization model and launch a pilot under Alatau’s jurisdiction.

Tether, the National Bank of Kazakhstan and the Alatau City Authority also plan to organize educational workshops and training programs for specialists. The programs will cover the international stablecoin and digital-asset market, issuance models, reserve management and real-world asset tokenization.

Tether CEO Paolo Ardoino said the company aims to support the development of digital-finance infrastructure in Kazakhstan.

In September 2025, Kazakhstan launched a national stablecoin on Solana with support from Mastercard.

Source: Incrypted