Kazakhstan Eyes Crypto for State Reserves in Bold New Plan
2025-07-15 23:10:57
Main Idea
The National Bank of Kazakhstan (NBK) is exploring the inclusion of alternative assets, such as cryptocurrencies, in its national reserve portfolio, following examples from other countries, as part of its growing crypto initiatives.
Key Points
1. NBK is considering adding alternative assets to the National Fund's portfolio to generate higher investment returns, citing strategies from Norway, the US, and the Middle East.
2. Kazakhstan has been involved in cryptocurrency mining since at least 2017, though it was not legal tender at the time.
3. The country aims to invest $1.2 billion in infrastructure to stay competitive in crypto mining, becoming the second in the world for hash rate by summer 2021.
4. Kazakhstan ranks 57th out of 151 countries in the 2024 Global Crypto Adoption Index, indicating moderate retail adoption.
5. Recent initiatives include plans for a 'CryptoCity' to further integrate digital assets as payment methods.
Description
The National Bank of Kazakhstan (NBK) is exploring how alternative assets may aid the country’s economy. Kazakhstan’s idea for a reserve is yet another example of its growing crypto adoption, as the nation has been involved in the mining scene for a while, and with the most recent plans for a “CryptoCity.” What Will Be Included? According to a press release from the local news outlet Kursiv , NBK is evaluating the inclusion of digital assets in its sovereign and foreign currency reserves. The go...
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