National Bank of Kazakhstan issues "crypto cards"

The National Bank of Kazakhstan has announced the launch of a new project related to the issuance of so-called “crypto cards” – bank cards linked to crypto wallets placed on licensed exchanges of the Astana International Financial Center (AIFC).

To implement this initiative, the regulator held a working meeting with representatives of the banking sector, crypto exchanges and fintech companies to agree on the technical and legal aspects of implementation. These cards allow users to pay for goods and services in the national currency - tenge, while the required amount is automatically converted from the owner's cryptocurrency at the time of purchase. Conversion occurs due to the instant sale of the required volume of digital assets, which makes the use of cryptocurrency convenient and accessible for everyday payments.

In 2025, the National Bank will also actively support a series of pilot projects in the field of digital assets aimed at developing infrastructure and expanding the possibilities of handling them within the country. Among the key areas:

— issue of stablecoins secured by both regular and digital tenge;

— tokenization of real estate and financial instruments, as well as the issue of digital bonds and shares;

— development of systems for accounting and storing collateral for transactions with digital assets;

— creation of services for the exchange and secure storage of cryptocurrencies;

— implementation of other innovative solutions based on tokenized assets.

To provide legal support for all these initiatives, the National Bank has prepared a bill that should expand the possibilities for legal circulation of both unsecured and backed digital assets. The document provides for the simplification of procedures and the creation of a clear regulatory framework for market participants, which, according to the regulator, should stimulate the growth of investment and technological development in the country.