Tether Signs Memorandum of Understanding with the National Bank of Kazakhstan and the Alatau City Authority to Explore Stablecoins and Asset Tokenization

Odaily News: On October 7, digital asset company Tether signed a memorandum of understanding with the National Bank of Kazakhstan (NBK) and the Alatau City Authority (ACA). The three parties will explore stablecoin development, asset tokenization, and decentralized finance-related applications.

The three parties will jointly study international models for stablecoin issuance and potential application scenarios, and develop a stablecoin concept and pilot program pegged to Kazakhstan's national currency, the tenge, while also building the related infrastructure to support digital financial development.

The agreement also covers the establishment of an asset tokenization framework in Kazakhstan, including assessing the possibility of using Tether's tokenization platform Hadron, designing tokenization models within the jurisdiction of Alatau City, determining priority asset categories, and launching pilot projects.

Tether CEO Paolo Ardoino stated that Kazakhstan is exploring asset tokenization and a strategic reserve framework; Binur Zhalenov, Deputy Governor of the National Bank of Kazakhstan, stated that financial stability, transaction transparency, and investor protection are top priorities. (Tether News)