Kazakhstan to Launch State Digital Asset Fund and Expand Digital Tenge

Kazakhstan is taking bold steps to become a regional leader in digital finance. President Kassym-Jomart Tokayev has ordered the creation of a State Digital Asset Fund under the National Bank’s investment corporation, designed to build a strategic crypto reserve. The fund will focus on leading cryptocurrencies and tokenized assets, strengthening Kazakhstan’s position in the global digital economy. Lawmakers have been instructed to pass a comprehensive digital asset law by 2026 to regulate tokenized platforms and attract new market players.

Tokayev emphasized the need for Kazakhstan to “create a full-fledged ecosystem of digital assets as soon as possible,” highlighting the role of blockchain and tokenization in shaping the nation’s financial future. Crypto advocate Mario Nawfal called the move a sign of the “snowball effect” driving worldwide adoption.

The country is also advancing its central bank digital currency, the digital tenge, launched in pilot mode in late 2023. By mid-2025, the digital currency was already integrated into public budgets, and authorities plan to expand its national use to fund major projects. Tokayev also unveiled plans for “CryptoCity” in Alatau, envisioned as Central Asia’s first fully digitalized city where residents can use cryptocurrency in daily life.

Kazakhstan further underscored its ambitions by introducing Central Asia’s first spot Bitcoin ETF in August 2025, launched by Fonte Capital on the Astana International Exchange with BitGo as custodian.

As a major hub for Bitcoin mining—once contributing around 13% of global hashrate—Kazakhstan has both benefited from and struggled with the industry’s rapid growth. With new regulations, a state-backed crypto reserve, and a focus on innovation, the country aims to balance energy demands with its vision of becoming a global digital asset powerhouse.