Kazakhstan launches digital tenge project

Kazakhstan's National Bank has launched the digital tenge project, the bank's press service reported.

The first-ever digital tenge transaction was conducted today, on the 30th anniversary of the national currency.

The digital tenge offers the convenience of offline transactions, similar to physical currency. It can be used through existing banking apps and the broader financial infrastructure.

The introduction of the digital tenge is planned in three phases, with completion expected by the end of 2025. The first phase is launching this year in partnership with financial market participants. It will complement physical and non-cash currencies, advancing the National Payment System and reducing cash dependence.