Kazakhstan’s central bank announces CBDC pilot

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The National Bank of Kazakhstan will create a two-tiered platform to provide financial institutions access to a “digital tenge” during a new central bank digital currency (CBDC) pilot.

The tenge is Kazakhstan’s currency, worth approximately $0.23.  

During the pilot, the central bank will issue a token-based prototype CBDC to financial institutions. They in turn will offer CBDC payment services to citizens.

“To make a decision on the issue of the digital tenge, it is necessary to conduct a

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