Kazakhstan Brings Bitcoin, Crypto Cards for Everyday Payments

Kazakhstan is advancing its integration of cryptocurrency into everyday payments through two major initiatives: the launch of cryptocurrency payment cards and the establishment of a dedicated pilot zone called CryptoCity.

Cryptocurrency Payment Cards

Kazakhstan is introducing crypto payment cards connected to digital wallets on licensed crypto platforms within the Astana International Financial Centre (AIFC).

These cards will allow users to make transactions using Bitcoin (BTC) and other cryptocurrencies. At the time of a transaction, the user's digital assets are automatically converted into the national currency (fiat), and the payment is processed in fiat money.

This seamless crypto-to-fiat conversion is enabled by close collaboration between banks and crypto providers, ensuring secure and convenient use of cryptocurrencies in real life.

Alongside crypto cards, the National Bank of Kazakhstan is also funding initiatives such as issuing stablecoins backed by the national currency, tokenizing assets like property, and developing secure storage systems for digital financial assets.

CryptoCity Pilot Zone

Kazakhstan has launched CryptoCity, a pilot zone designed to legalize and facilitate cryptocurrency payments for goods, services, real estate, and investments under a regulated sandbox environment.

This initiative, prioritized by President Kassym-Jomart Tokayev, aims to create a pioneering space where cryptocurrencies can be used broadly in daily life, including restaurants, cafes, and retail stores.

The project integrates blockchain technology and AI to boost digital asset innovation and attract global developers and investors.

CryptoCity serves as a controlled framework to test and refine regulations for crypto payments, promoting Kazakhstan as a hub for digital economy growth and technological infrastructure development.

Together, these efforts reflect Kazakhstan's strategic push to mainstream cryptocurrency usage by providing practical payment solutions and a regulatory environment that supports innovation and security in digital finance.

It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)