Kazakhstan Plans National Crypto Reserve Using Wealth Funds

Kazakhstan is positioning itself as a pioneer in state-held cryptocurrency reserves, announcing plans to establish a national crypto stockpile by 2025. The Central Asian nation will fund this initiative through seized digital assets and revenues from state-controlled mining operations—a strategic move that outpaces larger economies still debating crypto's role in sovereign reserves.

National Bank Governor Timur Suleimenov revealed the dual-track strategy during discussions on modernizing financial reserves. The first approach mirrors traditional gold reserves, creating a dedicated crypto treasury. The second involves allocating portions of Kazakhstan's $134 billion in sovereign wealth funds—including the oil-backed National Fund and Samruk-Kazyna's holdings—into aggressive crypto investment portfolios targeting higher yields than conventional assets.

The country's international reserves grew to $104.7 billion in 2024, with Gold and forex reserves surging 27.5% to $45.8 billion despite selling 10 tonnes of gold. This financial flexibility allows Kazakhstan to experiment with crypto as a reserve asset while maintaining traditional holdings.