The National Bank (central bank) of Kazakhstan has launched a digital tenge in pilot mode. The full-scale implementation of the digital tenge is planned to be completed by the end of 2025, according to the press service of the financial regulator, Report informs referring to local media.
The first transaction using digital tenge took place within the Congress of Kazakh financiers, on the day of the 30th anniversary of the country’s national currency, which is celebrated on November 15.
“The National Bank of Kazakhstan piloted a digital tenge platform with the participation of second-tier banks and their clients. The architecture of the platform allows bank clients to take advantage of digital tenge by opening a digital account in the mobile application of the servicing bank,” the National Bank noted.
A national payment corporation has been created under the Central Bank, which will develop digital financial infrastructure, including through the implementation of the Digital Tenge project.