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Kazakhstan has taken a bold step in the digital asset space by creating a state-backed crypto reserve in partnership with Binance. The new fund, called Alem Crypto Fund, was unveiled by the Ministry of Artificial Intelligence and Digital Development and will be managed by Qazaqstan Venture Group under the Astana International Financial Centre (AIFC). Its first purchase includes BNB, Binance’s native utility token, though the government has not disclosed the size of the investment or what other digital assets may follow.
Officials said the goal of the fund is to build long-term strategic reserves and foster growth in the country’s digital asset ecosystem. This announcement comes shortly after Kazakhstan introduced its tenge-backed stablecoin (KZTE) on the Solana network in collaboration with Mastercard, Intebix, and Eurasian Bank, reinforcing its push into blockchain innovation.
Kazakhstan has steadily advanced its crypto agenda since 2022, when Binance first partnered with the government to help shape regulatory frameworks. With projects like CryptoCity underway and a call from President Kassym-Jomart Tokayev for a “full-fledged ecosystem,” the nation is positioning itself as a major player in global digital finance.
