Kazakhstan has officially launched its KZTE stablecoin, pegged to the national currency, the Tenge. Developed in collaboration with Mastercard, Solana, Intebix, and the Eurasian Bank, the new digital asset aims to bridge the gap between traditional finance and the rapidly growing crypto economy. The KZTE stablecoin offers a stable, regulatory-compliant payment option while modernizing Kazakhstan’s digital payments ecosystem:
BREAKING: The National Bank of Kazakhstan has launched the first tenge-backed KZTE stablecoin on Solana, in partnership with Mastercard, Intebix, and Eurasian Bank 🇰🇿🪙 pic.twitter.com/TTJD1be4cY
— Solana (@solana) September 23, 2025
A Stable Option for Digital Payments
Built on the Solana blockchain, the KZTE stablecoin is being tested in Kazakhstan’s regulatory sandbox to ensure full compliance with local laws. Pegged to the Tenge, it enables faster, predictable, and secure transactions, providing a stable alternative to highly volatile cryptocurrencies. The initiative is part of Kazakhstan’s strategy to build a national digital asset ecosystem and integrate innovative financial tools into conventional systems.
Connecting to Global Payment Networks
Through its partnership with Mastercard, KZTE holders can use the stablecoin at millions of merchant locations worldwide, extending its use beyond traditional crypto exchanges. Timur Suleimenov, Governor of the National Bank of Kazakhstan, emphasizes that digital assets and blockchain technology enhance financial inclusion and efficiency. KZTE gives individuals and businesses easy access to the digital economy while reducing exposure to market volatility.
Kazakhstan’s Digital Finance Vision
The launch of the KZTE stablecoin strengthens Kazakhstan’s role in the global crypto sector, where it already plays a prominent part in Bitcoin mining. Beyond everyday payments, KZTE simplifies operations on crypto exchanges and in wallet infrastructure, including trading and asset conversion. The National Bank continues to explore ways to integrate digital currencies into daily and corporate financial processes, making KZTE a cornerstone of the country’s long-term digital strategy and a step toward regulated blockchain adoption.