Kazakhstan Central Bank Launches Crypto Cards as Part of Digital Finance Overhaul
Kazakhstan’s central bank has launched a pilot program to issue crypto-linked payment cards, enabling citizens to spend digital assets like regular money at everyday merchants.
The initiative, unveiled during a meeting in Almaty with banks, exchanges, and fintech firms, aims to convert crypto into fiat currency at the point of sale, allowing non-cash purchases at vendors that accept standard payment cards, Cryptopolitan reports.
The pilot is backed by President Kassym-Jomart Tokayev’s broader directive to promote the legal circulation of digital assets rather than impose restrictions.
Licensed exchanges and platforms registered under the Astana International Financial Centre (AIFC) will manage the crypto wallets tied to the cards, marking a critical step in bridging Kazakhstan’s digital and traditional financial systems.
The National Bank of Kazakhstan (NBK) also revealed plans to launch a tenge-backed stablecoin—available in both fiat and digital forms.
The government is preparing to tokenise various assets, including financial instruments, real estate, and securities, while establishing secure custody and exchange systems for digital financial tools.
To support this ecosystem, legislative amendments are being drafted to enable the broader use of unsecured digital assets and formalise regulations for secured digital financial assets. The NBK said the evolving infrastructure would ensure safe, regulated interactions between crypto and fiat systems, enhancing trust and practical adoption.
The crypto card initiative comes as part of a broader regulatory pivot. Last month, Kazakhstan announced it would legalise crypto trading beyond the AIFC under a new licensing regime.
The country also launched “CryptoCity,” a pilot zone for testing crypto-based payments and digital innovations.
While Kazakhstan has already generated over $35 million in taxes from Bitcoin mining over the past three years, officials now project up to $350 million in annual revenue if favourable regulations are implemented. Deputy Minister of Digital Development Kanysh Tuleushin emphasised that clear policies could unlock the full economic potential of the crypto industry.
