Key Insights: Tether’s Kazakhstan deal brings stablecoin news of a proposed tenge token pilot. The partners will study issuance and reserves, with no launch date announced. Alatau City could
Stablecoin news from Kazakhstan centers on an agreement to explore a digital token pegged to the country’s currency, the tenge.
Tether signed the October 7 memorandum with the National Bank of Kazakhstan and Alatau City Authority. The partners will study stablecoin issuance models, prepare a pilot proposal, and develop plans for asset tokenization.
For the tenge proposal, their work will begin with examining international models and identifying potential uses in Kazakhstan.
Those findings will inform a concept for the pilot and the infrastructure needed to support digital finance. However, the memorandum does not approve a new stablecoin, and the parties have not announced an issuance date.
The proposed token’s blockchain, reserve structure, and commercial issuer also remain unannounced. Alongside their research, the partners will organize workshops covering stablecoin issuance, reserve management, and international digital asset markets.
These sessions on stablecoin news will support professional development for National Bank specialists and relevant government agencies.
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The training program will also cover distributed ledger technology and real-world asset tokenization. Both subjects feature in the agreement’s plans for digital finance infrastructure.
Through workshops and seminars, the partners intend to study the regulatory and technological experience of other markets.
National Bank Deputy Governor Binur Zhalenov said the collaboration would examine international practices in stablecoin issuance and asset tokenization.
He identified financial stability, transaction transparency, and investor protection as the bank’s priorities. The institution also oversees monetary policy, payment systems, and currency regulation in Kazakhstan.
Tether CEO Paolo Ardoino said the company aimed to support Kazakhstan’s exploration of tokenization and digital financial infrastructure.
He also identified data protection and privacy among its objectives. The agreement involving the Tether USDT issuer covers research and pilot preparation without announcing a stablecoin launch.
Kazakhstan began piloting a tenge-backed stablecoin in September 2025, before signing the latest memorandum. Rules effective May 2026 later recognized stablecoins, tokenized physical assets, and traditional financial instruments issued digitally.
Those requirements in the stablecoin news address infrastructure, capital, risk management, compliance, and controls against money laundering for covered digital asset providers.
In July, the National Bank outlined plans to test stablecoins in cross-border payments and money transfers. Its policy also included developing tokenized government bond projects and regulatory approaches to decentralized finance.
Alongside those measures, authorities identified Alatau City’s digital infrastructure and interaction with the Astana International Financial Centre as policy areas.
Alatau operates under a special legal regime, with its authority responsible for public administration and regulatory development. Constitutional changes effective July 1 established a framework for accelerated-development cities. Alatau became the first city to use that framework.
Under the memorandum-based stablecoin news, the partners will identify priority asset categories and design a conceptual tokenization model.
They plan to conduct a pilot within Alatau City’s jurisdiction, potentially using Hadron by Tether. No asset class or launch date has been selected for that project.
Hadron supports the issuance and management of bonds, equities, stablecoins, funds, and commodity-backed tokens.
Beyond the latest stablecoin news, Tether has announced additional agreements related to tokenization research and infrastructure. These include an August collaboration with First Data and BKN301 focused on institutional real estate assets in Saudi Arabia.
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