The National Bank of Kazakhstan plans to allocate up to $350 million from the country’s gold and foreign exchange reserves toward investments tied to digital assets, marking one of the most significant steps by a central bank to gain exposure to the crypto sector.

Governor Timur Suleimenov said the initiative will focus on companies and financial instruments connected to cryptocurrency markets rather than direct purchases of assets like Bitcoin. The investments are expected to include shares of technology firms involved in digital asset infrastructure as well as index funds whose performance tracks crypto-related markets.

The allocation represents a small portion of…

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