In 2021 the National Bank of Kazakhstan (NBK) began trials for a Digital Tenge (DT). After two years of central bank digital currency (CBDC) research and consultations with stakeholders, the project will progress to the next phase, with widespread implementation expected by 2025.
The CBDC began as a central bank project, but on Friday the NBK announced it established the National Payment Corporation that will include the Kazakhstan Center for Interbank Settlements (KISC). The organization will be responsible for the development of the CBDC as well as other payment systems. One of the goals is to accelerate innovation and digitalization.
Additionally, the central bank also published a paper on its progress in developing a CBDC.
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