Kazakhstan prepares stablecoins for trade and USDT and USDC analogues
- —Kazakhstanis own about 1 million crypto wallets worldwide
- —About five stablecoin projects are being implemented in the regulatory sandbox
- —An issuer needs a digital asset platform operator license, and the token is backed by a deposit or short-term paper
- —USDT and USDC are recognized as unsecured digital assets, but their circulation is permitted
Why it matters: Kazakhstan is creating a regulated alternative to USDT and USDC and a settlement hub with Binance, intensifying competition for the stablecoin market in Central Asia.
Source: BeInCrypto RU