Kazakhstan’s central bank to test BNB Chain for its CBDC

The National Bank of Kazakhstan (NBK) will test BNB Chain from Binance to deploy a national digital currency.

National Bank of Kazakhstan (NKB) will integrate their CBDC on @BNBchain. #BNB https://t.co/33WMKwAczm

— CZ 🔶 Binance (@cz_binance) October 27, 2022

In early October, Binance received a license to operate a digital assets platform and provide custodial services at the Astana International Financial Centre.

“But we won’t stop there. Since then, the team has met with the First Deputy Chairman of NBK, Berik Sholpankulov, and the Head of the Payments and Technological Center, Binur Zhalenov,” said the CEO of the bitcoin exchange, Changpeng Zhao.

Since then, our team met with the First Deputy of the Governor of the National Bank of Kazakhstan (NKB), Berik Sholpankulov, and the Head of Payment and Technological Center, Binur Zhalenov. (2/4)

— CZ 🔶 Binance (@cz_binance) October 26, 2022

According to him, there were discussions about testing the integration of the digital tenge into BNB Chain.

Zhao did not disclose additional details. A Binance spokesperson told The Block that discussions of concrete use-case options for the network are ongoing.

The NBK began examining the possibility of implementing a CBDC in 2020. In December 2021, the regulator reported the first results of the pilot project for the digital tenge.

Earlier in October, Kazakhstan’s lower house approved in the first reading five bills on the regulation of cryptocurrencies and mining.

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