Kazakhstan Aims to Launch Digital Tenge by End of 2025, National Bank Head Reveals
The National Bank of Kazakhstan is set to fully implement the digital tenge by the conclusion of 2025, with the project currently in a pilot phase involving four banks. Timur Suleimenov, the Head of the National Bank, shared insights into the financing of this ambitious initiative.
Suleimenov disclosed that, as of now, four banks are actively participating in the pilot mode, having conducted tens of thousands of transactions in December of the previous year. This initial phase serves to accumulate experience, identify challenges, and rectify errors, ultimately facilitating a smooth transition from the pilot to the production mode of the digital tenge.
Addressing the financial aspect of the project, Suleimenov clarified that no dedicated funds have been allocated for the digital tenge implementation. Instead, the National Payment Corporation, responsible for payment system matters, is involved. Financed by the National Bank and utilizing its own tariffs, the organization operates within its commercial activities, with no additional funds earmarked specifically for the introduction of the digital tenge.
