Kazakhstan Launches Game-Changing National Stablecoin on Solana’s Lightning-Fast Network

Central Asia's crypto powerhouse makes its boldest move yet—deploying sovereign digital currency on blockchain's performance leader.

Strategic Infrastructure Play

Kazakhstan bypasses legacy financial rails entirely, leveraging Solana's high-throughput architecture for national-scale digital payments. The move positions the resource-rich nation at the forefront of central bank digital currency innovation.

Technical Superiority

Solana's proven capacity for 65,000 transactions per second crushes traditional payment networks—and leaves earlier blockchain experiments in the dust. Kazakhstan's treasury operations gain instant settlement finality without banking intermediaries.

Geopolitical Implications

While Western regulators debate stablecoin frameworks for another five years, emerging economies are literally minting their future. The timing couldn't be more symbolic—just as traditional finance discovers yield farming, nation-states are farming entire monetary systems.

Another brick in the wall—except this one's programmable, borderless, and doesn't require a banker's blessing to move across continents.

Kazakhstan’s New Stablecoin

Kazakhstan is no stranger to the crypto industry, spending several years as an international Bitcoin mining hub. Although this industry has since diminished, the government is still interested in Web3, launching a Bitcoin ETF and pushing for a Crypto Reserve this year.

Today, Kazakhstan showed another interest in crypto, as local reporters claim that the nation is planning to launch its own stablecoin. It will be called “Evo” (KZTE) and pegged to the tenge, Kazakhstan’s national currency.

Seeing as previous plans to launch a tenge-based CBDC fell apart, this plan might prove more fruitful.

Although local media conveyed the government’s enthusiasm for exploring deeper crypto connections, this coverage was a little light on Web3-specific details.

However, Tamar Menteshashvili, Solana’s Head of Stablecoins, provided a wide range of details about Kazakhstan’s project, which aims to build a local Web3 ecosystem:

Today Kazakhstan launched EVO (KZTE), the first Kazakhstani Tenge-backed stablecoin issued on @solana. 🇰🇿

We are proud to support this initiative together with the @nationalbank_kz , @Intebix, @Mastercard, @SuperteamKZ and other partners, shaping the future of digital finance in… https://t.co/snbiBMgj6Z pic.twitter.com/mnVNJFIKle

A Strong Lineup of Partners

Kazakhstan will issue its new stablecoin on Solana’s blockchain, partnering with several other firms to ensure smooth market access and customer utility. Intebix, a licensed crypto exchange, will issue the KZTE tokens. Mastercard is also a partner, which has been deepening its Web3 presence lately.

Additionally, a local team of solana ecosystem builders is contributing to KZTE.

Although it isn’t clear how Superteam Kazakhstan will support this stablecoin, the group aims to unite local founders and projects to create a thriving local economy. Evo could surely assist this goal. The Eurasian Bank, one of the nation’s largest lenders, also contributes to the project.

Together, these actors aim to create more than a stablecoin for Kazakhstan; they want to build a local crypto ecosystem.

By expanding the crypto-fiat gateway, exchanging digital assets, and supporting transactions via cryptocurrency cards, Evo could bring the country on-chain in many key ways.

Ideally, this stablecoin will bridge the gap between TradFi and Web3 in Kazakhstan. State institutions, major private banks, and international credit card companies are participating, clearly showing strong commitments.