Tether and Kazakhstan explore tenge-backed stablecoin pilot

The partnership aims to design a stablecoin pilot and identify asset classes suitable for tokenization using Hadron, Tether’s proprietary issuance platform. While the memorandum establishes a framework for workshops on reserve management and distributed ledger technology, it does not confirm the issuance of a new token. No specific launch dates, blockchain protocols, or commercial terms have been finalized by the parties.

Kazakhstan already maintains a regulatory environment for digital assets following rules introduced by the National Bank in May 2026. These regulations govern money-backed stablecoins and tokenized real assets outside the Astana International Financial Centre. The country previously launched a pilot for a tenge-denominated stablecoin, known as Evo or KZTE, in September 2025 through a collaboration involving Intebix, Solana, and Mastercard. Tether’s involvement remains exploratory, with National Bank Deputy Governor Binur Zhalenov emphasizing that any future implementation must prioritize financial stability and investor protection. Alatau City, operating under a special legal regime for accelerated economic development, serves as a primary site for these ongoing digital finance experiments.