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Digital tenge may appear in Kazakhstan
Bankers in Kazakhstan are discussing the digital tenge project.
Representatives of the National Bank of Kazakhstan discussed with the financial market players the digital tenge project and possible participation of second-tier banks in the digital tenge pilot.
According to Kapital.kz, 60 participants took part in the discussion, including the financial market players and international experts in the field of payment systems.
The meeting was focused on the analysis of international best practices, requirements for participation in the pilot project and plans to involve market stakeholders in the development of new financial products on the digital tenge platform.
“Given the widespread development of technologies and payment systems, digital tenge has the potential to become a new payment instrument that would complement the cash and non-cash payment solutions already in place. It is aimed to strengthen competition in the payment services market, accelerate the development of innovative services for the population, and boost financial inclusion in the regions,” the National Bank said in a statement.
The National Bank of Kazakhstan plans to continue public discussions of the project results with the public and the financial market.
Digital tenge, as well as other relevant issues, will be discussed at the PLUS-Forum “Fintech Borderless. Eurasia Digital”, a major global event of the financial market in 2021.
The PLUS-Forum will be held in Almaty (Kazakhstan) on September 23.