The President of Kazakhstan Kasim-Zhomart Tokaev said that on the basis of the investment corporation of the National Bank, a state fund of digital assets should be created to form a reserve in the most reliable cryptocurrencies.

According to Tokaev, the government should show the initiative and accelerate the formation of a full -fledged ecosystem of digital assets in order to ensure the competitiveness of the country’s economy.

He emphasized that digital tenge is already used in financing projects at the expense of the National Fund. The asset should be introduced in republican and local budgets, as well as in state holding budgets.

“Digital tenge contributes to the development of this work. It is necessary to expand the scope of its application, ”Tokaev said.

Due to the liberalization of the digital assets market, it will be possible to attract new international investment companies to the market, which will ensure not only the influx of capital, but also the development of technological solutions in the banking and financial sector, he added. According to the president, this will allow Kazakhstan to strengthen the position of the regional hub in the field of Fintech and accelerate the integration of the country into a global digital economy.

Earlier, the authorities of Kazakhstan launched a pilot project that allows you to pay for state fees and duties in dollar stabblecoins like USDT or USDC. The Agency for the regulation and supervision of the Astana financial services market (AFSA) notified the launch of the project.