Kazakhstan Establishes Regulatory Body to Implement CBDC
The National Bank of Kazakhstan (NBK) has established an independent entity to lead the development and implementation of the central bank digital currency (CBDC) - the digital tenge. According to an official statement from September 15, the National Payment Corporation (NPC) will be formed based on the former Kazakhstan Interbank Payment Center. This new institution will oversee the national payment system, including interbank clearing services, transfers, and digital identity verification.
The National Bank of Kazakhstan (NBK) has established an independent entity to lead the development and implementation of the central bank digital currency (CBDC) - the digital tenge.
According to an official statement from September 15, the National Payment Corporation (NPC) will be formed based on the former Kazakhstan Interbank Payment Center. This new institution will oversee the national payment system, including interbank clearing services, transfers, and digital identity verification. The National Payment Corporation will also be responsible for the development of "digital financial infrastructure," including the implementation of the digital tenge.
Currently, Kazakhstan's CBDC pilot is in the testing phase using controlled environments with real consumers and merchants. One of the key partners in this project is Binance, which supports the pilot through its technical solution BNB Chain.