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Kazakhstan President Proposes $1B Investment Plan to Boost High-Tech and Digital Assets

Kazakhstan President Proposes $1B Investment Plan to Boost High-Tech and Digital Assets

President Tokayev’s proposal to create a state-backed crypto reserve and expand the digital tenge aligns with Kazakhstan’s ambitions to build a robust digital asset ecosystem.

Fact Check
The statement is strongly confirmed by multiple recent and credible sources. Evidence from The Astana Times and ForkLog directly mentions President Tokayev proposing a $1 billion investment targeting high-tech sectors and the creation of a state fund for digital assets. A Bloomberg article further corroborates the $1 billion investment figure for technology startups. The other sources are either outdated or refer to different investment initiatives.
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Summary

Kazakhstan's President Kassym-Jomart Tokayev outlined a comprehensive plan to establish a state-backed digital asset reserve fund managed by the National Bank's investment corporation. The fund would focus on accumulating promising crypto assets to advance the nation’s digital financial infrastructure. Tokayev also urged legislative reforms to liberalize the digital asset market and foster fintech innovation. A significant component of his plan is the broader use of Kazakhstan’s Digital Tenge, the country’s central bank digital currency (CBDC), in national and state budgets.

Terms & Concepts
  • Crypto Reserve: A state-managed pool of selected cryptocurrencies accumulated for strategic use within a country’s financial system.
  • Central Bank Digital Currency (CBDC): A digital form of a country’s sovereign currency issued and regulated by its central bank.
  • Digital Tenge: Kazakhstan’s central bank digital currency, aimed at modernizing payments and financial transactions across the economy.