On June 3, 2025, in Almaty, the National Bank of Kazakhstan, within implementation of the order of the Head of State on development of the digital asset sector, held a meeting with representatives of banks, crypto exchanges and fintech companies. The meeting discussed status of implementation of projects to launch innovative financial services based on tokenization and digital assets. The dialogue covered issues of integrating the digital assets into the financial system of the country and further development of relevant regulation.

During the meeting, implementation of the "crypto-cards" project was launched, i.e. payment cards that allow consumers to make non-cash transactions linked to wallets in licensed providers of digital asset services (crypto exchanges) of the Astana International Financial Center. This solution provides the ability to integrate circulation of the digital assets into the existing payment infrastructure safely and conveniently.

For reference: the "crypto card" mechanism provides for sale of client's digital assets on the AIFC crypto market at the time of the payment transaction with immediate crediting of their value to the "crypto card" (a standard payment card linked to the client's bank account), i.e. in fact, payment will be made using real money after immediate sale of crypto assets. Thus, payment transaction will be carried out in money after immediate use of the balance of the crypto wallet on the side of the licensed crypto provider of the AIFC. The instantaneousness of settlements will be ensured through the crypto-fiat integration of the bank and the AIFC crypto provider.

This year, market participants, under coordination of the National Bank, also plan to carry out a number of pilot projects in digital assets, including:

- issue of stablecoins secured by the national currency (including the digital tenge) for settlement transactions with digital assets;

- tokenization of financial assets, real estate and issue of tokens equivalent to securities;

- organization of systems for accounting and storage of basic collateral for digital financial assets;

- organization of services for exchange transactions with crypto assets and storage of crypto assets;

- other innovative financial services.

Together with concerned government agencies, the National Bank has developed draft legislative amendments to ensure expansion of turnover of unsecured digital assets and creation of a regulatory framework for digital financial (secured) assets.

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