The Central Bank of Kazakhstan has launched a stablecoin pegged to the local fiat currency in collaboration with Solana and Mastercard
ChainCatcher news, according to Cointelegraph, the Central Bank of Kazakhstan is partnering with Solana and Mastercard to launch a pilot project for a new stablecoin pegged to the local currency, the Kazakhstani tenge.According to the statement, the country's national bank has initiated this project within its digital asset regulatory sandbox framework. The new Evo (KZTE) stablecoin is issued with the assistance of sandbox participants, the crypto exchange Intebix and Eurasian Bank. The founder of Intebix stated that KZTE is based on the Solana blockchain and has been launched within the central bank's regulatory sandbox, with Mastercard planning to connect it with global stablecoin issuers.Kazakhstan's newly launched Evo stablecoin is referred to as a "national stablecoin," aimed at bridging cryptocurrency innovation with traditional finance. Its use cases include expanding cryptocurrency-fiat channels, facilitating exchanges, and supporting cryptocurrency card transactions. This project is part of the national bank's strategy to build a digital asset ecosystem, and although it is technically issued by Intebix and Eurasian Bank, the central bank is involved through regulatory mechanisms.
