Kazakhstan Launches National Crypto Reserve, Chooses BNB for First Investment

Kazakhstan has officially launched its first national crypto reserve called Alem, selecting BCB as the initial digital asset through a partnership with Biance Kazakhstan. The Ministry of Artificial Intelligence and Digital Development established the fund, managed by Qazaqstan Venture Group and registered within the Astana International Financial Centre ecosystem.

According to the Deputy Prime Minister, Zhaslan Mayidev, the main objective of the fund is to become a reliable instrument for major investors and a key foundation for digital state reserves, potentially driving the state-level savings in the future.

BNB is one of the top cryptocurrencies, as it owns a market capitalization exceeding $138 billion. Functioning as the native token of the BNB Chain, it is used for processing transactions, paying network fees, and participating in governance.

The GM of Binance in Kazakhstan, Nurkhat Kushimov, calls the selection a new chapter for institutional recognition of cryptocurrencies in Kazakhstan. The initiative of the selection was carried out after the recent directive of President Kassym-Jomart Tokayev, which was to create a state-backed crypto reserve fund through the National Bank’s Investment Corporation.

Tokayev ruled in favour of accumulating a strategic reserve of “encouraging assets”, promising up to $1 billion in funding for the programs to support growth in high-tech and fintech sectors. The president has plans to expand the digital tenge for republican and local budgets, with future plans to set up an anti-fraud center to solve cybersecurity issues.

It was on the Astana Finance Days, which took place earlier this month, that Kazakhstan approved stablecoin payments for regulatory fees, with Bybit being the first exchange to sign a multilateral Memorandum of Understanding with the Astana Financial Services Authority. This project was called a unique regulatory framework for payments in stablecoins in the region.

The National Bank Chairman, Timur Suleimenov, verified the plans to direct portions of Kazakhstan’s gold and foreign exchange reserves, with the National Fund assets to crypto-based investments.

With the help of crypto exposure, Kazakhstan has plans to expand its reserve, representing moves by global sovereign wealth funds toward digital asset investments. The allocation reflects strategies utilized by sovereign wealth funds in Norway, the US, and the Middle East, which have garnered limited exposure through crypto ETFs and related equities.

Suleimenov has warned investors to take their time before investing, acknowledging the volatility despite the potential for high returns. Investors can use the BitGo Trust as a cold-storage custody to store this physically-backed fund.

The pilot testing of this central bank digital asset has also been completed by the country, with the digital tenge expected for a complete rollout by the end of 2025, as a third form of payment method alongside cash and non-cash payments.

The official journey of Kazakhstan’s crypto began in 2021, when the Chinese mining operations shifted following Beijing’s crackdown, hurrying the country to control 27% of global Bitcoin mining before grid strain and regulatory gaps resulted in a reduction of 4% by 2023.

With that, the country registered around 415,000 mining machines, issued 84 licenses with 64 active, and launched the “70/30 project”, which allowed foreign investors to undertake power station upgrades, allocating 70% of the capacity to the grid and 30% for miners, while generating state-backed digital currency that could enhance the crypto reserve.

Kazakhstan’s crypto adoption aligned with the mass adoption of crypto initiatives by several regional countries, especially to increase tourism.

According to reports, Bhutan recently collaborated with Binance Pay and DK Bank with the intention of creating the world’s first national-level crypto tourism payment system, facilitating payments for airline tickets, visa fees, and accommodation.

As of August 18, 2025, Thailand began a crypto-to-baht payment system for tourists through the TouristDigiPay scheme to increase tourism amid declining Chinese visitors. Additionally, France’s Riviera region implemented crypto payment options across over 80 businesses.