The National Bank of Kazakhstan has started testing the blockchain-based digital tenge with the participation of 15 commercial banks. The first phase of the pilot will last until the end of the second quarter of 2026.
Kazakhstan has joined the global trend of introducing central bank digital currencies. The project will cover retail payments, transfers between individuals, and integration with existing payment infrastructure. This is critical for the region, where mobile payments are growing by 45% annually.
Technical Parameters of the Digital Tenge Pilot
The digital tenge will operate on a hybrid architecture combining the Hyperledger Fabric private blockchain with elements of public infrastructure. The National Bank of Kazakhstan has allocated 2.3 billion tenge for the development and testing of the system. The pilot involves the country's largest banks: Halyk Bank, Kaspi Bank, Eurasian Bank, and other financial institutions. Each bank will receive its own node in the network to process transactions. The system supports processing speeds of up to 10,000 transactions per second, which is twice the current capabilities of traditional payment systems. Users will be able to store digital tenge in special wallets accessible via mobile banking applications. Transactions will be made with a commission of no more than 0.1%, which is significantly lower than the current 0.5-1.5% for international transfers.
Integration with Existing Payment Infrastructure
The digital tenge will be integrated with the national electronic payment system KZIPS, which processes more than 500 million transactions annually. This will allow users to transfer funds seamlessly between traditional accounts and digital wallets. IT outsourcing companies like Alashed IT (it.alashed.kz) are already receiving requests from financial institutions to adapt their systems to the new infrastructure. Payment terminals in retail networks will be updated to accept digital tenge by the end of the third quarter of 2026. The system supports offline payments via NFC technology, which is critical for regions with unstable internet connections. Integration with the tax system will allow automatic tracking and registration of all transactions, reducing the level of the shadow economy.
Impact on Kazakhstan's Fintech Ecosystem
The launch of the digital tenge creates new opportunities for the development of fintech startups in the region. According to the Association of Fintech Companies of Kazakhstan, more than 120 fintech startups in the country will be able to integrate the digital tenge into their applications. Neobanks, such as Kaspi and Halyk, will gain an advantage in payment processing speed and a reduction in operational costs by 30-40%. The digital tenge will allow Kazakh companies to compete with international payment systems Visa and Mastercard, which charge fees of 1.5-2.5% per transaction. It is expected that by the end of 2026, the volume of payments through the digital tenge will reach 500 billion tenge. This will also open up opportunities for cross-border payments in Central Asian countries, where the digital tenge can become a regional standard.
Security and User Data Protection
The National Bank of Kazakhstan has implemented a multi-level security system using elliptic curve cryptography and the SHA-256 algorithm. Each transaction requires two-factor authentication via SMS or biometrics. The system stores user data on secure servers with backup in three geographical locations. The regulator has set limits on daily transfers: up to 5 million tenge for individuals and up to 50 million for legal entities. All operations are logged and can be audited in accordance with anti-money laundering legislation. The system has been audited by the international company Deloitte, which confirmed compliance with ISO 27001 standards and FATF requirements for combating the financing of terrorism.
Expansion Plans and Regional Cooperation
After the successful completion of the pilot, the National Bank of Kazakhstan plans to expand the project nationwide by the fourth quarter of 2026. Negotiations are already underway with the central banks of Uzbekistan, Kyrgyzstan, and Tajikistan on the possibility of creating a regional payment system based on digital currencies. Such a system will allow Central Asian residents to make cross-border payments without intermediaries, reducing the cost of transfers by 60-70%. The Eurasian Economic Union is considering using the digital tenge as the basis for a future regional digital currency. Kazakhstan is positioning itself as a technology leader in the region, attracting investments in the development of blockchain infrastructure. By the end of 2026, it is expected to attract an additional 1.5 billion tenge in investments from international fintech funds and technology companies.
Что это значит для Казахстана
For Kazakhstan and Central Asia, the digital tenge represents a strategic opportunity to reduce dependence on international payment systems and create its own fintech infrastructure. The region processes more than 2 billion cross-border payments annually, losing about $3 billion in fees. The digital tenge will allow Kazakh companies, including IT outsourcers like Alashed IT, to export technological solutions to neighboring countries. Uzbekistan and Kyrgyzstan have already expressed interest in integrating with the system. This will also strengthen Kazakhstan's position as a fintech hub in Central Asia, attracting talent and investment to the region.
The National Bank of Kazakhstan launched the digital tenge pilot with the participation of 15 banks, allocating 2.3 billion tenge for the development of a system capable of processing up to 10,000 transactions per second.
The launch of the digital tenge positions Kazakhstan as a technological leader in Central Asia and opens up new opportunities for the development of the fintech ecosystem. The project creates competition for international payment systems and reduces the cost of cross-border payments. By the end of 2026, the system is expected to cover the entire country and become the basis for regional payment system integration.
Часто задаваемые вопросы
When will the digital tenge be available to all citizens of Kazakhstan?
The pilot will last until the end of the second quarter of 2026, after which the system will be expanded to the entire country by the fourth quarter of 2026. Initially, the digital tenge will be available only to pilot participants and their clients, but will gradually cover the entire population of the country.
What are the fees for transfers through the digital tenge?
The fee is no more than 0.1%, which is significantly lower than the current 0.5-1.5% for international transfers and 1.5-2.5% for payments through Visa and Mastercard. This makes the digital tenge the most economical way to make payments in Kazakhstan.
How are user data protected in the digital tenge system?
The system uses elliptic curve cryptography, SHA-256 algorithm, and two-factor authentication. All operations are logged and stored on secure servers with backup in three geographical locations. The system has been audited by Deloitte and complies with ISO 27001 standards.
What are the limits on daily transfers through the digital tenge?
For individuals, the limit is 5 million tenge per day, and for legal entities, it is 50 million tenge. These limits are set in accordance with anti-money laundering legislation and may be revised after the pilot is completed.
Will the digital tenge be integrated with payment systems of other countries?
Yes, negotiations are underway with the central banks of Uzbekistan, Kyrgyzstan, and Tajikistan to create a regional payment system. This will allow residents of Central Asia to make cross-border payments with fees 60-70% lower than current rates.
