Back in December 2022, the National Bank of Kazakhstan completed testing of the digital tenge platform, involving real consumers and trade-service enterprises. Over 3500 transactions with the token were carried out through a special application.
And this week, the National Bank presented the implementation project of the digital tenge to the High Audit Chamber.
Regulators’ representatives mentioned that the CBDC won’t replace physical or non-cash money; instead, it will be used in parallel with them. Additionally, the ability to conduct offline payments through it will modernize the national payment system.
The digital tenge is planned to be launched into operation by the end of 2023.