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Tether signs Kazakhstan central bank MoU to study tenge-pegged stablecoin
The memorandum also calls for workshops to train central bank staff on token issuance, reserve management, and tokenizing assets, with no pilot dates specified.
Tether, the company behind the USDT stablecoin, signed a memorandum of understanding with Kazakhstan’s National Bank and the Alatau City Authority to explore a stablecoin pegged to the tenge, according to Decrypt.
The memorandum’s first goal is to study how other countries issue similar tokens and then prepare a concept and pilot proposal, though it does not name who would issue the tenge-pegged token.
The parties will also work on tokenization efforts, including selecting priority categories of real-world assets, designing a model, and launching a pilot in Alatau, potentially using Hadron, Tether’s tokenization platform launched in November 2024.
The MoU includes workshops to train central bank staff on issuing tokens, managing reserves, and tokenizing assets, and the announcement does not set dates for either pilot.