Tether Partners With Kazakhstan Central Bank to Launch Tenge Stablecoin Pilot

Tether has signed a memorandum of understanding with the National Bank of Kazakhstan and the Alatau City Authority to explore a tenge-pegged stablecoin and develop a framework for tokenizing real-world assets. Under the agreement, the parties will study international stablecoin issuance models, identify potential use cases, and propose a pilot for a tenge-backed digital currency. The collaboration also includes identifying assets for tokenization and launching a pilot project in Alatau that could leverage Tether's Hadron platform, along with workshops covering stablecoin issuance, reserve management, and asset tokenization.

National Bank of Kazakhstan Deputy Governor Binur Zhalenov said the central bank intends to study international approaches to stablecoin issuance and tokenization while prioritizing financial stability, transaction transparency, and investor protection. Tether, the issuer of the market-leading USDT stablecoin, continues to expand its footprint across emerging markets as global demand for dollar- and local-currency-pegged digital assets accelerates.

Kazakhstan has aggressively expanded its digital asset strategy this year, rolling out stablecoin, tokenization, crypto payments, and mining initiatives. In September, the government approved a 65-measure plan spanning 10 areas to develop the country's digital asset industry, including expanded real-world asset tokenization, digital payments, international settlements, and crypto mining. The Energy and Digital ministries have also been directed to develop a mechanism for using gas- and coal-fired power generation to supply mining centers.

The country ranked among the world's top 10 for Bitcoin production in 2025, according to government figures. Kazakhstan's National Strategic Crypto Reserve has reached $700 million, while 34 digital asset projects have completed testing in the central bank's regulatory sandbox. BitcoinTreasuries.net ranks Kazakhstan seventh among governments in its database for Bitcoin holdings, with an estimated 3,544 BTC worth approximately $294 million, underscoring the country's deepening commitment to integrating blockchain technology into its financial infrastructure.