The cryptocurrency exchange Binance Kazakhstan has obtained international ISO certifications in information security management and confidential information. This was reported to ForkLog by representatives of the platform.
The certifications were issued by the British Standards Institution following an audit of Binance Kazakhstan’s security measures, policies, and processes.
ISO 27001 ensures the confidentiality, integrity, and availability of information. ISO 27701 provides effective privacy management within the organization and facilitates transparency to clients regarding these mechanisms.
“We expect our users to feel significantly more confident knowing that their assets and personal information are protected according to the latest global standards,” said Vishal Sachendran, Binance’s Global Head of Regional Markets.
In 2023, the local platform in Kazakhstan began opening accounts for corporate sector clients and successfully passed an external financial audit on tax and other reports.
More than 250 local law enforcement officers have been trained by the exchange on investigating cryptocurrency-related crimes. Binance’s educational initiative in the country’s universities continues.
“Over 4,000 students have already started training in blockchain engineering and blockchain compliance. We expect this number to increase to 40,000 by 2026,” shared Rachel Conlan, the exchange’s Global Marketing Director.
Overall, Kazakhstan continues to develop its digital asset industry. Currently, regulators have registered over 350,000 mining devices, issued 54 licenses, and accredited five mining pools. The country’s budget has received about 9 billion tenge ($20.4 million).
Following a pilot project on the interaction between bitcoin exchanges and banks in Kazakhstan, the total number of clients reached over 52,000, with a total turnover exceeding $230 million.
In October 2022, the cryptocurrency exchange Binance received an AFSA license in Kazakhstan to manage a digital asset platform and provide custodial services in the AIFC.
In June 2023, the subsidiary BN KZ Technologies began operations. At the time of writing, 101 tokens are available for spot trading on the local exchange.
In 2023, Binance Kazakhstan, in collaboration with the local National Bank and the National Payment Corporation, launched a test stablecoin on the BNB Smart Chain, backed by digital tenge.
For more details on the local platform’s projects, read the ForkLog interview with its head, Zhaslan Madiev. In early May 2024, he was appointed Minister of Digital Development of Kazakhstan.