Kazakhstan Launches Alem Crypto Fund With Binance As Strategic Partner

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, September 30. Kazakhstan has launched a new investment vehicle, the Alem Crypto Fund, created by the Ministry of Artificial Intelligence and Digital Development under the management of Qazaqstan Venture Group and registered in the Astana International Financial Center (AIFC), Trend reports via the ministry.

The fund is designed to make long-term investments in digital assets and build financial reserves. In the future, it may also serve as a public savings instrument, strengthening the country's ability to manage its financial stability.

“The creation of Alem Crypto Fund is a step toward the development of digital finance in Kazakhstan. Our goal is to make it a reliable tool for large investors and an important foundation for digital public reserves,” said Zhaslan Madiyev, Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development.

Binance Kazakhstan, the jurisdictionally authorized offshoot of the preeminent global cryptocurrency exchange, has emerged as the inaugural strategic collaborator for the fund. The fund's initial capital allocation was directed towards BNB, the native cryptocurrency of the BNB Chain ecosystem, utilized for transactional operations, fee settlements, and governance mechanisms. With a market capitalization exceeding $138 billion, BNB positions itself as a preeminent and resilient digital asset within the global financial ecosystem.

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