Kazakhstan President Pushes for State-Backed Digital Asset Fund

Kazakhstan President Kassym-Jomart Tokayev has ordered the creation of a national cryptocurrency reserve, signaling a strategic pivot toward digital assets. The proposed "State Fund of Digital Assets" will accumulate strategic holdings from leading cryptocurrencies, operating under the National Bank's Investment Corporation.

Tokayev's directive accelerates Kazakhstan's digital finance ambitions, calling for crypto market liberalization through new banking laws by December 2025. The plan includes $1 billion in government investments targeting fintech and high-tech sectors, aiming to shift domestic banks toward productive lending.

The digital tenge CBDC, already financing state projects, will see expanded use across government budgets. This policy shift positions Kazakhstan among the first Central Asian nations to institutionalize cryptocurrency reserves at the sovereign level.