Kazakhstan Launched Its National Stablecoin on Solana with Mastercard Backing

Key Highlights Kazakhstan launches a new stablecoin pegged to the tenge Evo KZTE links crypto with traditional finance Mastercard supports cross-border stablecoin adoption Kazakhstan Launches Evo KZTE Stablecoin to Bridge Crypto and Traditional Finance Kazakhstan has unveiled a pilot version of its national digital currency, Evo (KZTE), pegged to the local currency, the ￰0￱ stablecoin is issued through a partnership between crypto exchange Intebix and Eurasian Bank, supported by Mastercard and built on the Solana ￰1￱ launch marks a major step in integrating cryptocurrencies into the country’s financial ￰2￱ Evo KZTE Aims to Transform Finance KZTE was immediately launched within the central bank's regulatory sandbox, a controlled environment that allows innovation while ensuring ￰3￱ founder Talgat Dossanov highlighted that Mastercard plans to link KZTE with global stablecoin networks, enhancing cross-border ￰4￱ project is designed to act as a bridge between the crypto market and traditional ￰5￱ applications include: Crypto-fiat transactions for seamless trading Purchase and exchange of cryptocurrencies Payments using crypto cards for everyday transactions The National Bank of Kazakhstan sees the stablecoin as a cornerstone of the country’s digital transformation, reinforcing its ambition to build a robust national digital asset ￰6￱ Moves for Kazakhstan’s Crypto Future President Kassym-Jomart Tokayev has previously ordered the creation of a state digital asset fund, aiming to establish a strategic crypto reserve of the most stable and widely used ￰7￱ fund will be based at the National Bank's Investment Corporation and is expected to strengthen the country’s financial resilience while promoting innovation.

Kazakhstan’s move could make it one of the leading nations in the integration of regulated crypto solutions into mainstream finance.