The National Bank of Kazakhstan disclosed rounding up the second testing phase in developing the digital tenge, and it may adopt a phased approach to launch the CBDC from 2023 through 2025.
Changpeng Zhao tweeted that his team had persuaded Berik Sholpankulov, the First Deputy of the Governor of the National Bank of Kazakhstan, to test integrating the Digital Tenge with the BNB chain.
Galymzhan Pirmatov notes that the institution is carefully studying the digital currency market and is set to unveil some of its plans before 2022 ends.
The National Bank of Kazakhstan plans to set up a retail digital currency on a distributed ledger technology, and is mulling the possibility of using the digital tenge for payment.
The Kazakh central bank worked with local banks and international partners on the prototype, but it will decide on the need for digital tenge by December 2022.
