Kazakhstan Successfully Pilots Digital Tenge in First Steps Towards Adoption
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The digital tenge was successfully piloted in Kazakhstan for a month and used for various applications like school lunches, gold tokenization, and taxes.
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It was made interoperable with existing payments infrastructure like POS systems and QR codes. Cards worked domestically and internationally.
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Other digital tenge trials included cross-border SWIFT payments, issuing stablecoins, and a move-to-earn app.
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Goals for 2024 include increasing participating banks, advancing DeFi capabilities, enabling offline transactions, and improving security.
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Regulatory and legislative changes are needed to support the rollout of the digital tenge.