Kazakhstan’s Agency Begins Accepting Stablecoin Payments
The Astana Financial Services Authority (AFSA) has launched a new pilot program enabling the payment of regulatory fees in USD-pegged stablecoins. This innovative move was introduced during the Astana Finance Days event. It aims to streamline transactions and embrace digital finance.
Bybit kazakhstan, a regional branch of a major global crypto platform, has become the first official agent to facilitate these transactions. Under the program, eligible firms can pay fees in stablecoins.These funds are than converted and sent to AFSA’s standard bank accounts.
- Only licensed digital asset firms can join the pilot.
- requirements include holding an AFSA license for money services or managing a trading platform.
According to evgeniya Bogdanova, AFSA’s CEO, “Stablecoins are transforming global finance. By incorporating USD-pegged stablecoins, the AIFC adopts a more efficient and forward-thinking approach.”
This step follows AFSA’s previous efforts. In 2024, they introduced a regulatory framework for stablecoins and issued the nation’s first fiat-backed stablecoin license.
Beyond this, Kazakhstan is advancing its digital currency ambitions. Its central bank is testing a digital tenge, aiming for a nationwide rollout by 2025. These initiatives reflect Kazakhstan’s commitment to integrating digital assets into a regulated financial ecosystem.
