First Official Transaction Using Kazakh Digital Tenge Takes Place
Date
11/15/2023 5:17:30 AM
(MENAFN- Trend News Agency) ASTANA, Kazakhstan, November 15. The first
transaction using Kazakhstan's digital tenge was carried out by the
Chairman of the National Payment Corporation of Kazakhstan, Binur
Zhalenov at the congress of Financiers of Kazakhstan, Trend reports.
The official launch ceremony of digital tenge was held during a
presentation within the framework of the Congress of Financiers of
Kazakhstan. The full-scale implementation of the digital tenge is
planned to be completed before the end of 2025.
"We have built technology that integrates existing payment cards
with the digital tenge platform. This allows you to pay in digital
tenge anywhere in the world using Apple Pay, Samsung Pay, etc.,"
Binur Zhalenov said.
As he noted, this is the world's first debit payment card linked
to a Central Bank digital currency account.
"We hope that this experience will be useful for our colleagues
abroad. And we are happy to share it," he said.
Kazakhstan has been discussing the idea of creating a digital
tenge for years. In 2021, the National Bank of the Republic of
Kazakhstan, in close cooperation with financial market
participants, the expert community and international partners,
implemented a pilot project digital tenge.
In 2022, the National Bank continued to study the benefits and
costs of the introduction of the digital tenge, work was carried
out to expand the technological functionality of the platform and
quantitative economic studies were carried out.
An analysis of the regulatory aspects of the introduction of
digital tenge was also carried out, and approaches to the
development of the ecosystem were developed.
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