Kazakhstan Launches Cryptocurrency Payment Cards

The National Bank of Kazakhstan has approved the issuance of cryptocurrency payment cards linked to wallets on exchanges licensed by the AIFC. This was announced by the regulator’s press service.

During a payment transaction, a client’s digital assets will be sold on the AIFC crypto market with their value instantly credited to the card.

“This is a standard payment card linked to the client’s bank account, meaning that payment will effectively be made using real money after the immediate sale of crypto assets,” explained the National Bank.

The immediacy of settlements will be ensured through the crypto-fiat integration of the bank and the AIFC exchange.

By 2025, Kazakh authorities plan to issue stablecoins pegged to the national currency and digital tenge, tokenize financial assets, and create services for storing, accounting, and exchanging cryptocurrencies.

Back in late May, the Astana International Exchange, Solana Foundation, liquidity aggregator Jupiter, and licensed trading platform Intebix signed a memorandum of understanding to promote a dual listing mechanism for enterprises.