During the state visit of President Xi Jinping to Kazakhstan, the National Bank of Kazakhstan and the People’s Bank of China signed a Memorandum of Understanding providing for exchange of experience in development of Central Bank Digital Currencies (CBDC).

The parties agreed to share knowledge and expertise, carry out joint CBDC research, and develop employee competencies through joint training.

The National Payment Corporation of the National Bank of Kazakhstan and the Digital Currency Institute representing the side of the People’s Bank of China will also participate in the implementation of the objectives of the Memorandum.

The signed document emphasizes the importance of international cooperation in the financial sphere and the aspiration of the two countries to innovations and development of digital technologies.

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