Kazakhstan’s National Bank Rolls Out Crypto Card For Instant Conversion to Fiat

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The National Bank of Kazakhstan (NBK) officially launched its crypto card initiative on June 3 , aligning with President Kassym-Jomart Tokayev’s directive to enhance the country’s digital asset ecosystem.

The announcement was made during a key meeting with stakeholders, including banks, crypto exchanges, and fintech firms , to assess the development of tokenized financial services and digital asset innovations .

Crypto Card Functionality: How It Works

Kazakhstan’s crypto card is designed as a non-cash payment solution within the Astana International Financial Centre (AIFC) . Users need a crypto wallet from a licensed digital asset service provider to use the card for everyday transactions.

According to NBK’s press release:

“Transactions are processed using fiat currency following the immediate conversion of digital assets. This is enabled by the integrated crypto-to-fiat infrastructure between the bank and the licensed AIFC crypto provider.”

This allows users to spend crypto instantly while merchants receive fiat payments , simplifying the payment process.

5 Major Banks Join Kazakhstan’s Crypto Card Pilot

As of June 5 , five leading banks have joined the pilot program:

• Halyk Bank
  
• Forte
  
• Freedom Bank
  
• RBK Bank
  
• Altyn Bank
  

NBK Governor Timur Suleimenov highlighted that these are among the most prominent financial institutions in Kazakhstan . The crypto card will enable users, including those using exchanges like Binance through AIFC , to make seamless payments for goods and services.

What’s Next? Stablecoins and Tokenized Assets on the Horizon

Kazakhstan is preparing several upcoming pilot projects to further expand its digital finance ecosystem , including:

• Stablecoins backed by the national currency for settlement purposes.
  
• Tokenization of financial investments , including equity-like securities .
  
• Enhanced frameworks for crypto asset storage and exchange transactions using crypto as collateral.
  

Final Thoughts: Kazakhstan’s Vision for a Digital Finance Hub

With this crypto card initiative, Kazakhstan is pushing forward as a regional leader in regulated digital asset innovation . Backed by the AIFC’s legal framework and growing institutional involvement, the country is laying the foundation for a robust crypto finance ecosystem , including regulated crypto mining, asset tokenization, and real-world crypto utility.

As pilot projects roll out, Kazakhstan may soon set a new benchmark in state-backed crypto integration .