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      Tether Partners with Kazakhstan's Central Bank to Explore Tenge Stablecoin

      Tether, the issuer of the USDT stablecoin, has entered into a Memorandum of Understanding with the National Bank of Kazakhstan (NBK) and the Alatau City Authority (ACA) to investigate the development of a stablecoin linked to the tenge, Kazakhstan's national currency. The agreement, signed on October 7, 2026, aims to explore various use cases for stablecoins, asset tokenization, and decentralized finance initiatives.

      As part of this collaboration, the parties plan to conduct tokenization pilots in Alatau City, which is being developed as a fintech and smart-city hub. The pilots may utilize Hadron, Tether's tokenization platform, to convert real-world assets into digital tokens that can be managed on a blockchain. Additionally, the agreement includes a focus on studying international stablecoin issuance and regulation models, along with educational workshops to promote financial stability and investor protection.

      Kazakhstan is set to tokenize up to $60 million in projects within Alatau City by the end of 2026, with significant investments earmarked for the Iconic Tower and the Birlik logistics center. This initiative follows a recent agreement between the Kazakhstan Stock Exchange (KASE) and the Alatau City Authority to develop platforms for digital financial assets, further enhancing the region's financial infrastructure.

      The MoU is non-binding and serves as a framework for exploration rather than a commitment to launch a stablecoin. The success of the tokenization projects and the development of the tenge stablecoin will be closely monitored as Kazakhstan seeks to establish a stronger presence in the on-chain finance sector, which is currently dominated by dollar-denominated stablecoins.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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