Governor of the National Bank Timur Suleimenov held a meeting on development of the National Digital Financial Infrastructure and current status of implementation of projects and initiatives in digital assets.

National Payment Corporation JSC presented information about development of the interbank mobile payment system on the Open API platform, implementation of the Digital Tenge project, including cross-border payments based on central bank digital currencies (CBDC), as well as results and prospects for operation of the National Anti-Fraud Center.

To date, 5 banks participate in the Open API project, and 4 more are at the testing stage. Since the launch, over 2,000 transfers have been made for about 200 million KZT. The new mechanism allows banks to optimize their costs and helps cut the cost of services for clients.

Particular attention was paid to implementation of instructions of the Head of State on development of digital financial assets. Status of preparation of pilot projects in digital assets, implementation of which is scheduled for July of this year, was covered. These include initiatives to tokenize real estate and precious metals, as well as projects to issue stablecoins secured by the national currency. Implementation of these projects is carried out within the National Bank's "regulatory sandbox".

Following the event, key priorities for further development of the digital financial ecosystem and pilot fintech projects were identified.

Reference:

National Payment Corporation JSC, a subsidiary of the National Bank, is responsible for interbank payments and transfers, clearing, development and support of key components of the national payment system. NPC JSC also conducts applied research, develops prototypes and implements pilot projects in the field of financial technologies. NPC JSC processes about 9 trillion tenge on average per day through the national payment system (SMEP, MSPD and QMS), which is 90% of the volume of all non-cash payments.

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