Today: Friday, 8 December 2023 year

The Central Bank of Kazakhstan launched a digital tenge.

The Central Bank of Kazakhstan launched a digital tenge.

The National Bank (Central Bank) of Kazakhstan launched a digital tenge in pilot mode, the press service of the financial regulator reported on Wednesday.

The first transaction using digital tenge took place within the framework of the Congress of Kazakhstani financiers, on the day of the 30th anniversary of the country’s national currency, which is celebrated on November 15.

“The National Bank of Kazakhstan piloted a digital tenge platform with the participation of second-tier banks and their clients. The architecture of the platform allows bank clients to take advantage of digital tenge by opening a digital account in the mobile application of the servicing bank,” the National Bank explained.

Earlier, the Central Bank reported that a national payment corporation had been created under the National Bank, which would develop digital financial infrastructure, including through the implementation of the Digital Tenge project.

The full-scale implementation of the digital tenge is planned to be completed by the end of 2025.