Kazakhstan Central Bank Recommendation: A Phase One CBDC Rollout Over the Next 3 Years


The Central Bank of Kazakhstan plans to bring the CBDC to market (as early as 2023) and add more functionalities through a phased expansion. It could be fully ready for commercial use by the end of 2025. According to the officials of NBK (National Bank of Kazakhstan), it is possible time to do so, and the product is in its second phase.Ra testing phase.

It should be noted that Kazakhstan is the third largest bitcoin mining center after the United States and China. According to an announcement in October, this CBDC will be integrated with the BNB chain. The goal is to promote financial inclusion, and improve innovation and competition in both global and domestic markets. Kazakhstan has announced the legalization of mechanisms for converting cryptocurrencies into cash.




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