Kazakhstan has officially launched its very own Central Bank Digital Currency (CBDC), the digital tenge. Indeed, Kazakhstan’s National Payment Corporation (NPC) has seen its chairman, Binur Zhalenov, make the first official transactions with the currency, according to local news outlets. Zhalenov spoke at the XI Congress of Finance in Almaty on Wednesday, where he paid with a debit card that was connected to a CBDC account. Additionally, he promised “massive platform development” as the CBDC moves into 2024.
Kazakhstan has just made the first official transaction of its digital local currency. The digital tenge was presented by Binur Zhalenoc when he paid with a debit card that was connected to a CBDC account. Therefore, the nation is set to kick off usage of the digital currency. The unveiling was met with excitement, as Zhalenov promised continued work on the project into 2024. Additionally, reports have stated that Kazakhstan worked alongside a plethora of financial institutions.
This is great news for Kazakhstan and the world of digital currency. Kazakhstan has made strides in the world of digital currency, and this move will likely be met with excitement from other countries. The launch of the digital tenge is a major step forward in the world of digital currency, and this will open up more possibilities for the future of the currency.
You can read more about this topic here: Watcher Guru: Kazakhstan Officially Launches CBDC