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AirAsia MOVE, Intebix and Solana Foundation Sign LOI on Kazakhstan Tenge Stablecoin Integration

The parties said they will explore adding Evo, a Kazakhstan tenge-backed stablecoin on Solana, to AirAsia MOVE for payments covering flights, hotels and other travel services.

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Summary

AirAsia MOVE, Intebix and Solana Foundation (nonprofit supporting the Solana blockchain) have signed a letter of intent to explore integrating Evo, a Kazakhstan tenge-backed stablecoin, into the AirAsia MOVE platform. According to the announcement, the initiative is aimed at studying stablecoin payment options for flights, hotels and travel-related services. The proposed integration would use Solana (high-speed blockchain network) as the underlying blockchain for the token.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value by being pegged to a reference asset such as a fiat currency.
  • Solana: A blockchain network built for high throughput and low transaction costs, commonly used for payments and digital asset applications.
  • Letter of intent: A preliminary agreement outlining that parties plan to explore a potential deal or collaboration, without necessarily creating a binding final contract.