The Central Bank of Kazakhstan announced the success of its recent pilot project involving the use of the digital tenge in retail transactions. In an effort to introduce the digital currency to the public, Kazakhstan authorities launched plastic debit cards linked to the digital tenge, which function much like traditional cards and can be used for payments at any establishments accepting credit and debit cards. Additionally, the digital tenge can be accessed through the local Onay transport card, and the country’s postal system facilitated transactions involving the digital currency.
One notable aspect of the pilot launch was the distribution of free lunches to schoolchildren in Astana, where the Onay transport card was utilized. Thanks to partnerships with Visa and Mastercard, the digital tenge could be used not only within Kazakhstan but also for international transactions—an unprecedented level of versatility for a state digital currency, as highlighted in the report by the Central Bank.
Looking ahead, the Central Bank plans to test offline transactions with the digital tenge, addressing the issue of limited internet connectivity in certain regions of Kazakhstan. Furthermore, they aim to explore the potential of the digital currency for international payments. It is worth noting that testing for Kazakhstan’s Central Bank Digital Currency (CBDC) commenced in mid-November.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
