The first transaction was completed: the chairman of the National Payment Corporation bought himself a coffee
Kazakhstan has officially launched the digital tenge. The launch ceremony took place within the framework of the XI Congress of Financiers of Kazakhstan, dedicated to the 30th anniversary of the national currency. The first transaction using digital tenge was carried out by the chairman of the National Payment Corporation, Binur Zhalenov, who bought himself a coffee.
According to Zhalenov, the card he used to pay is the world’s first debit payment card linked to a central bank digital currency account. The card was issued by the Eurasian Bank on the Mastercard platform; funds in the account in digital tenge are instantly converted into regular tenge and are available for payment by card anywhere in the world.
The digital tenge was launched in Kazakhstan
Digital tenge can be used without applications and devices, and it can also be used through a payment card, smartphone or smart watch. In addition, digital tenge can be cashed anywhere in the world at a regular ATM. The system is built in such a way that the digital tenge easily integrates with the social wallet, digital family card and other systems that ensure the proactive provision of public services.
A pilot project to introduce the digital tenge started in 2021, now the third form of the national currency has been launched into retail circulation, and a large-scale launch of the electronic currency is planned for 2024. Zhalenov emphasized that special attention will be paid to offline payments, and in 2025 it is expected that all market participants will be connected.