Kazakhstan to issue tokenised government bonds in Q1 2027
Why it matters
For bond desks and custodians, Kazakhstan is another government putting its own debt on a blockchain. Banks that trade emerging market bonds may need the systems to hold and settle these digital versions.
Post to XThe short version
Kazakhstan's central bank said on 13 November that it plans to issue digital government bonds with the finance ministry in the first three months of 2027. These are loans to the government recorded as tokens on a blockchain, a shared online ledger. The plan follows the central bank's first sale of similar digital notes this month.
Here's what happened. Kazakhstan's central bank chairman, Timur Suleimenov, spoke at a finance congress in Almaty. The central bank said it plans to issue tokenised government bonds with the finance ministry in Q1 2027. Tokenised means each bond exists as a digital token on a blockchain.
It builds on a first step. This month the central bank placed tokenised notes on the Kazakhstan Stock Exchange for the first time. CoinDesk reported that 10bn tenge, about $22.3m, of a 50bn tenge sale of 91-day notes was tokenised. Demand was 1.4 times the amount offered, at an average yield of 15.72%, according to CoinDesk.
The exchange's platform runs on Solana, with BitGo holding the assets, CoinDesk said. Neither has been confirmed for the bond plan.
Put it in context. Kazakhstan's central bank asked Tether in October to help it explore stablecoins and tokenisation, CoinDesk reported. The bond plan goes a step further: it would put actual government debt, not just short-term central bank notes, on the same kind of rails.
Where this comes from
- XIV Congress of Financiers of Kazakhstan held in Almaty · National Bank of Kazakhstan
- Kazakhstan plans tokenized government bonds in first quarter after $22 million note sale · CoinDesk
Written with AI from the sources above and checked against them before publishing. Here's how we work. This is news, not financial advice. Spotted a mistake? Tell us.
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