‍Kazakhstan Launches National Stablecoin KZTE on Solana with Mastercard
Kazakhstan has initiated a pilot project for its national stablecoin, Evo (KZTE), pegged to the tenge. Developed by the National Bank of Kazakhstan in partnership with Solana and Mastercard, the initiative operates within the central bank's Digital Assets Regulatory Sandbox.
Intebix crypto exchange and Eurasian Bank are issuing KZTE, leveraging Solana's blockchain technology. Mastercard's involvement aims to connect KZTE with global stablecoin issuers, potentially driving international adoption. The project seeks to expand the crypto-fiat channel, facilitate cryptocurrency exchange, and support transactions via crypto cards, bridging traditional finance and digital assets. This marks a significant step for central banks exploring blockchain for national currency solutions.