Kazakhstan plans to tokenize up to $60 million worth of real estate and logistics projects by the end of 2026, marking one of the country’s largest planned applications of digital assets to the real economy.
According to The Astana Times, National Bank Governor Timur Suleimenov presented the plans at a government meeting on September 15. The project includes up to $50 million for the Iconic Tower complex and another $10 million for the Birlik logistics center in Alatau City.
Both projects are expected to use the digital infrastructure of the Kazakhstan Stock Exchange (KASE).
Bitcoin is Already Part of the Infrastructure
The new tokenization plans are part of a much broader digital-asset strategy.
Kazakhstan has been building a regulated cryptocurrency market since 2022. The country’s National Bank now operates a regulatory sandbox covering areas including stablecoins, tokenization, cryptocurrency exchanges and digital-asset custody.
Bitcoin is already appearing in the country’s regulated financial infrastructure.
According to Suleimenov, the Kazakhstan Stock Exchange’s digital platform has processed around 34,000 transactions worth 20.5 billion tenge, or approximately $45.9 million, through an exchange-traded fund linked to Bitcoin futures.
Three additional cryptoasset ETFs have also been introduced.
This gives Kazakhstan an increasingly direct connection between traditional capital markets and Bitcoin-related investment products.
From Bitcoin Mining to Tokenized Assets
Kazakhstan has long been known as an important Bitcoin mining location.
The country’s latest strategy, however, goes well beyond mining. The government wants to develop a complete digital-asset ecosystem covering exchanges, custody, tokenization, payment solutions and digital financial instruments.
According to figures cited by The Astana Times, Kazakhstan had 76 licensed cryptocurrency miners and five accredited mining pools, with approximately 470,000 mining machines registered.
Kazakhstan’s mining pools produced around 3,600 Bitcoin in 2025, according to Vice Minister of Artificial Intelligence and Digital Development Gizzat Baitursynov.
The government is now placing greater emphasis on regulation, energy consumption and integration into the wider digital economy rather than simply increasing mining capacity.
Real-World Assets Become the Next Focus
The planned $60 million pilot represents another step in this transition.
Kazakhstan intends to use tokenization not only for real estate but also for infrastructure projects, commodities, government securities and corporate bonds.
Tokenization allows ownership rights or financial claims connected to an asset to be represented digitally. In principle, this can make traditionally difficult-to-trade assets easier to issue, transfer and manage.
For Kazakhstan, the objective is also financial: the government wants tokenization to attract additional investment into major domestic projects.
Prime Minister Olzhas Bektenov has instructed the National Bank to prepare a priority list of assets suitable for tokenization and to establish rules designed to protect investors.
Kazakhstan Targets a Broader Digital-Asset Economy
The tokenization initiative is part of a 65-measure government plan approved on September 15 to expand Kazakhstan’s regulated digital-asset market.
The strategy also includes wider use of the digital tenge, digital instruments for cross-border payments and further regulation of cryptocurrency mining.
Kazakhstan is therefore moving toward a model in which Bitcoin, crypto exchanges, tokenized real-world assets and digital payment infrastructure operate alongside the country’s traditional financial system.
The $60 million pilot is still a plan rather than completed tokenization. If implemented as announced, however, it would provide a concrete test of how digital assets can be used to finance real-world projects in Central Asia.
Primary Sources
- The Astana Times – $60 Million Tokenization Pilot — Current report on the planned $50 million Iconic Tower project and $10 million Birlik logistics center tokenization pilot.
- Prime Minister of Kazakhstan – Alatau City Projects — Official government information on Alatau City, its development and the planned use of digital assets.
- Prime Minister of Kazakhstan – Alatau City Council and Development Plans — Official background on Alatau City, the Iconic Complex and Kazakhstan’s plans for digital-asset development.
- Alatau City – Iconic Towers Project — Official project information about the planned Iconic Towers, including the 272-meter main tower.