Overview
- The NIC says it has opened a crypto-related investment account at the country’s Central Depository to handle reserve operations.
- Investments will be channeled through a shortlist of five undisclosed hedge funds, with no direct token purchases planned.
- Officials plan future allocations to crypto-focused venture capital funds as part of the reserve’s strategy.
- Timur Suleimenov confirmed $350 million in overseas currency and gold has been earmarked to back the initiative.
- Kazakhstan’s controlled approach continues as the AIFC settles some fees in USD-pegged stablecoins with Bybit as an approved agent, a Solana-based stablecoin project advances, and authorities report blocking over 1,100 unlicensed exchange platforms in 2025.