The National Bank of Kazakhstan has unveiled Evo (KZTE), a tenge-backed stablecoin created in collaboration with Solana and Mastercard. Issued within the bank’s Digital Assets Regulatory Sandbox, KZTE is operated by Intebix crypto exchange and Eurasian Bank, with support from Solana blockchain technology. Mastercard will connect the stablecoin to global issuers, enabling interoperability across platforms.
Pegged to the Kazakhstani tenge, Evo is described as a “national stablecoin” designed to link traditional financial services with blockchain innovation. Its use cases include expanding crypto-fiat transaction channels, supporting exchange settlements, and enabling payments via crypto cards. The project aligns with Kazakhstan’s broader digital asset strategy, aiming to develop a national ecosystem that encourages innovation while maintaining regulatory oversight. Although technically issued by Intebix and Eurasian Bank, the central bank is supervising the pilot under a tailored regime. Evo’s launch positions Kazakhstan as a regional leader in stablecoin adoption and digital finance integration.
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