Kazakhstan to test national digital currency

NUR-SULTAN. KAZINFORM – This year Kazakhstan may launch a pilot project of its own national digital currency, Governor of the National Bank Erbolat Dossayev said Thursday, Kazinform correspondent reports.

At the regular Government’s session Erbolat Dossayev revealed that the National Bank has been busy implementing the program aimed at the development of digital infrastructure of Kazakhstan’s financial sector as well as introduction of financial innovations.

One of this year’s key initiatives in that respect, according to Dossayev, is the pilot project on introduction of the national digital currency, the digital tenge. The project is implemented together with the participants of the financial market and international partners.

The Governor of the National Bank stressed that this issue has been gaining momentum recently as many countries of the world started developing their own digital currencies.

He added that the prototype of a digital tenge platform has been completed and that final report on the results of the pilot project is set to be published on 15 December 2021.

The final decision on the necessity to introduce the digital tenge will be made in December 2022.

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