Kazakhstan Launches Solana-based National Stablecoin: The Digital Currency Revolution

Jakarta, Pintu News – Kazakhstan, known as an international Bitcoin (BTC) mining hub, is now taking a big step in the Web3 industry by planning the launch of a national stablecoin called “Evo”. This stablecoin will be linked to Tenge, the national currency of Kazakhstan.

With support from Solana (SOL), Mastercard, and various local organizations, the project aims to integrate the Web3 ecosystem locally and bring about significant digital transformation in the country.

Introduction of “Evo” Stablecoin

Kazakhstan has shown a strong interest in blockchain technology and cryptocurrencies over the past few years, becoming one of the largest Bitcoin (BTC) mining centers in the world. Although the industry has seen a downturn, the government has not reduced its focus on Web3 technologies.

This year, Kazakhstan has also launched the first Bitcoin ETF and plans to establish a Crypto Reserve. Evo (KZTE), the stablecoin to be launched, is expected to be more successful than previous plans to issue a Tenge-based CBDC.

The government of Kazakhstan, through local media, has expressed their enthusiasm for deepening connections with the crypto world. While specific details about Web3 are still limited, Tamar Menteshashvili, Head of Stablecoins at Solana, has provided detailed information about the project. The main goal is to build a strong and integrated local Web3 ecosystem.

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Strategic Partnerships for Evo Success

To ensure smooth market access and effective customer utility, Kazakhstan will issue KZTE through the Solana (SOL) blockchain. Intebix, a licensed crypto exchange, will be responsible for issuing KZTE tokens. Mastercard, which recently deepened its involvement in Web3, is also part of the partnership.

In addition, a local team of Solana ecosystem builders in Kazakhstan will participate in the development of KZTE. While it’s unclear how Superteam Kazakhstan will support the stablecoin, the group aims to bring together local founders and projects to create a thriving local economy.

With support from Eurasian Bank, one of the country’s largest lenders, the project is not only about creating a stablecoin, but also building a complete local crypto ecosystem.

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TradFi and Web3 Integration Through Evo

Evo is expected to be the bridge between traditional finance (TradFi) and Web3 in Kazakhstan. By involving state institutions, major banks, and international credit card companies, the project shows strong commitment. Evo will expand crypto-fiat gateways, facilitate the exchange of digital assets, and support transactions via cryptocurrency cards.

By integrating blockchain technology in everyday transactions, Evo has the potential to bring Kazakhstan into a new digital era. It will enable faster, safer, and more transparent transactions, and support the growth of the digital economy in the country.

Conclusion

With the launch of Evo, Kazakhstan is not only strengthening its position on the global crypto stage but also introducing innovations that could change the financial and technological landscape in the country. Partnerships with key players such as Solana and Mastercard show how serious Kazakhstan is about adopting blockchain technology. This is a promising step forward for the full integration of the digital economy in Kazakhstan.

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Reference

• BeInCrypto. Kazakhstan to Launch Stablecoin on Solana with Mastercard Partnerships. Accessed on September 24, 2025
• Featured Image: The Street