Tether tapped by Kazakhstan’s central bank to explore stablecoin and tokenization
Source: CoinDesk ·
From the source
The National Bank of Kazakhstan said it will study a local currency-linked stablecoin and tokenized real-world assets with Tether. Kazakhstan's central bank is teaming up with stablecoin giant Tether to explore issuing a digital token tied to the country's currency and putting real-world assets on blockchain rails. The National Bank of Kazakhstan (NBK), Tether and the Alatau City Authority signed a memorandum of understanding to study stablecoins, asset tokenization and decentralized finance, the parties said Wednesday in a press release. One focus will be a potential stablecoin pegged to the Kazakhstani tenge. The group plans to study how similar tokens work elsewhere, identify possible uses and prepare a proposal for a pilot. The agreement is exploratory and does not amount to a decision to issue the stablecoin. The partnership also puts tokenization on the agenda. Tokenization creates blockchain-based representations of assets, potentially allowing anything from bonds to real…