National Bank of Kazakhstan to Integrate Digital Tenge With BNB Chain – Changpeng Zhao (CZ), the founder and CEO of the world’s biggest crypto trading platform, stated on Twitter that Kazakhstan’s monetary authority will link its central bank digital currency (CBDC) into the Bnb Chain built by Binance. Binance was recently granted a license to provide a variety of digital asset services, including exchange and custody, from the Astana International Financial Center (AIFC), the Central Asian nation’s financial hub.
Zhao stated on Wednesday that after receiving regulatory approval, the company met with Berik Sholpankulov, First Deputy Governor of the National Bank of Kazakhstan (NKB), and Binur Zhalenov, Head of the Bank’s Payment and Financial Technologies Development Center.
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Representatives from the exchange welcomed central bank officials to the Bnb Chain community and discussed testing the integration of the digital Kazakhstani tenge with the blockchain platform with them. CZ also stated in a series of tweets: “If you’re not aware, NKB recently launched a CBDC pilot in a controlled environment and with real consumers and merchants.”
Binance’s CEO stated that his team is looking forward to NKB producing use cases for their digital currency so that it can be seen how they can be linked into Bnb Chain. The eventual goal will be to connect traditional banking and the crypto ecosystem.
Kazakhstan, which became a hotspot for crypto mining following China’s crackdown on the industry last year, has been taking moves to control its crypto space, including currency trading platform activities. A local bank and another regulated exchange, Intebix, recently performed a transaction for the purchase of bitcoin with national fiat.
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Binance has previously stated its support for the country’s digital asset market’s “safe development.” Under a Memorandum of Understanding signed with Kazakhstan’s Financial Monitoring Agency, the exchange and the authorities in Nur-Sultan recently agreed to share information on financial crimes involving cryptocurrency.
