The agreement will explore a tenge-backed stablecoin pilot and a framework for tokenizing real-world assets as Kazakhstan expands its digital asset industry.
Tether has signed an agreement with Kazakhstan’s central bank and the Alatau City Authority to explore a tenge-pegged stablecoin and the tokenization of real-world assets.
Under the memorandum of understanding, the parties will study international stablecoin issuance models, identify potential use cases and develop a proposal for a tenge-backed stablecoin pilot, according to Tether.
The agreement also calls for the development of an asset tokenization framework, including identifying assets for potential tokenization and launching a pilot project in Alatau that could use Tether’s Hadron platform.
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