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Kazakhstan Using BNB Chain To Test CBDC

According to Binance, the National Bank of Kazakhstan (NBK) has agreed to test Binance’s blockchain network BNB Chain for prospective inclusion into the country’s central bank digital currency (CBDC).

Kazakhstan Using BNB Chain To Test CBDC 2

Binance CEO Changpeng Zhao recently met with two NBK officials, deputy governor Berik Sholpankulov and head of payment and technical center Binur Zhalenov.

According to Zhao, the company brought the two executives to the BNB Chain community to explore testing blockchain integration in digital tenge.

Zhao stated in his tweets that Binance is looking forward to NBK creating CBDC use cases and determining how to integrate BNB Chain.

The news comes just after Binance was granted a license to operate in Kazakhstan. Binance was granted a permit to provide crypto trading and custody services at the Astana International Financial Center by the Astana Financial Services Authority in August.

The exchange also struck an agreement with Kazakhstan’s Financial Monitoring Agency earlier this month to formalize their shared goal of building the country’s digital asset sector.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.