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Summary
- The National Bank of Kazakhstan (NBK), Tether and the Alatau City Authority signed a memorandum of understanding on Wednesday covering stablecoins, decentralized finance (DeFi) and asset tokenization.
- A key part of the partnership is research into a potential tenge-pegged stablecoin.
- The parties will examine stablecoin models used in other markets, evaluate possible applications and develop a proposal for a pilot project.
- However, the agreement remains exploratory and does not mean Kazakhstan has committed to launching the token.
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