Tether Joins Kazakhstan’s Alatau Push With Tenge Stablecoin Plan

Tether signed a memorandum with Kazakhstan’s central bank and the Alatau City Authority on Oct. 7 to explore a tenge-pegged stablecoin and real-world asset tokenization in Alatau.

The parties will study international stablecoin models, identify potential uses and prepare a concept and pilot proposal for a digital token linked to Kazakhstan’s national currency, the tenge. The agreement does not confirm that the token has been issued, approved for public use or given a launch date.

The memorandum also calls for a framework to tokenize real-world assets, with a potential Alatau pilot using Tether’s Hadron platform. Planned workshops and training will cover stablecoin issuance, reserve management, digital assets and distributed-ledger technology.

The initiative follows Kazakhstan’s Sept. 7 agreement with Binance to develop a regional settlement hub serving Central Asia, the Commonwealth of Independent States and Eastern Europe. That project is planned to include a Kazakhstan-based Binance entity and infrastructure operating under a National Bank payment-organization license.

Alatau’s special legal regime took effect July 1 after legislation was signed May 8, creating a tailored framework for the city’s investment and technology development.