Tether, Kazakhstan Central Bank Sign MoU to Explore Tenge Stablecoin

Tether, the National Bank of Kazakhstan and the Alatau City Authority signed a memorandum of understanding on October 7 to explore stablecoin use cases and asset tokenization.

The agreement includes work on stablecoin issuance models and a concept and pilot proposal for a stablecoin pegged to Kazakhstan’s national currency, the tenge.

The parties are also considering an asset-tokenization framework, educational programs and a potential tokenization pilot in Alatau City. The memorandum outlines exploratory work rather than the launch of an operational tenge stablecoin.

MoU sets out stablecoin research and pilot planning

Under the memorandum, Tether and the Kazakh institutions will study potential models for issuing a stablecoin tied to the tenge. Their work is intended to produce a concept and pilot proposal, according to the announcement.

No operational stablecoin was announced. Any issuance would remain subject to the outcomes of the planned work and pilot preparation.

• Study stablecoin issuance models
• Prepare a concept and pilot proposal for a tenge-pegged stablecoin
• Develop educational programs related to the initiative

Asset tokenization is also in scope

The agreement also covers the development of a framework for tokenizing real-world assets. The parties identified Alatau City as the potential setting for a tokenization pilot.

Tether said the proposed work could use its Hadron platform. The announcement describes this as a potential component of the pilot rather than a confirmed deployment.

The initiative arrives as infrastructure discussions continue across the Ethereum ecosystem, including work on transaction-level controls covered in the related internal report.

• Develop an asset-tokenization framework
• Assess a potential pilot project in Alatau City
• Consider the potential use of Tether’s Hadron platform

What the agreement does and does not establish

The signed memorandum creates a basis for cooperation among Tether, Kazakhstan’s central bank and the Alatau City Authority. It does not establish that a tenge stablecoin has been issued or that a tokenization pilot is already operating.

The next stated steps are research, framework development, educational activity and preparation of pilot proposals. Details on implementation remain to be determined through that process.

The news follows other Ethereum-related infrastructure developments, including the Ethereum Foundation’s work on private API payments.

Continue reading: Ethereum Foundation explores native transaction assertions for enforcing transaction outcomes on BTCNews.

Continue reading: Ethereum Foundation introduces zkAPI for private, unlinkable API payments on BTCNews.

Sources

• Tether: Tether Signs MoU with the National Bank of Kazakhstan and the Alatau City Authority to Explore Stablecoin Use Cases and Asset Tokenization
• CoinDesk: Tether tapped by Kazakhstan’s central bank to explore stablecoin and tokenization

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