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- 🎃 Halloween is here! Four GDOGs line up! 👻
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The Central Bank of Kazakhstan has partnered with Solana and Mastercard to launch the tenge stablecoin Evo (KZTE).
According to Evo Deep Tide TechFlow news on September 23, Cointelegraph reported that the National Bank of Kazakhstan announced the launch of a stablecoin pilot project within its digital asset Regulatory Sandbox framework. The newly launched Evo (KZTE) stablecoin is pegged to the Kazakhstani tenge and is issued by sandbox participants Intebix crypto assets exchange and local lending institution Eurasian Bank, with assistance from Solana and Mastercard.
The stablecoin is built on the Solana blockchain and has been launched within the central bank's Regulatory Sandbox. Mastercard will be responsible for connecting KZTE with global stablecoin issuers. Intebix founder Talgat Dossanov stated that this is the first time the central bank has taken an active role in stablecoin issuance.
KZTE is defined as a “national stablecoin” aimed at connecting encryption innovation with traditional finance, with use cases including expanding the crypto assets-fiat currency channel, supporting crypto assets trading, and crypto card transactions.