ASTANA – Kazakhstan plans to tokenize up to $60 million in real estate and logistics projects by the end of 2026, launching its first major test of digital assets as a new source of financing for the economy, National Bank Governor Timur Suleimenov said at a Sept.
15 government meeting. The plans include up to $50 million for the Iconic Tower complex and $10 million for the Birlik logistics center in Alatau City in the Almaty Region. Both are expected to be issued through the Kazakhstan Stock Exchange’s digital infrastructure.
Kazakhstan also plans to link its nationwide regulatory framework with the separate regimes of the Astana International Financial Centre and Alatau City, creating what officials describe as a single digital asset market. The Alatau City model. Photo credit: Akorda.
Click to see the map in full size. The map is designed by The Astana Times. Under that model, authorities are considering a regional payments and settlement hub with Binance. Suleiemenov said the project would involve establishing a Binance legal entity in Kazakhstan and obtaining a top-tier payment organization license, potentially allowing the hub to serve clients across the Commonwealth of Independent States, Eastern Europe and Asia, Suleimenov said.
The projects are part of a 65-measure plan approved by the government on Sept. 15 to expand Kazakhstan’s regulated digital asset market. Kazakhstan plans to tokenize major infrastructure projects, real estate and commodity assets to attract investment. Prime Minister Olzhas Bektenov instructed the National Bank to compile a priority list of assets for tokenization and establish rules intended to protect investors.
“The digital assets sector is a completely new area of Kazakhstan’s economy. The basic conditions for the development of the digital assets market have already been established. We are now in the process of forming a comprehensive ecosystem,” Bektenov said. “We have major infrastructure projects, real estate, commodities and other assets.
Tokenization can be used to attract additional financing for these projects,” he added. The government seeks to attract investment and bring more cryptocurrency activity into the regulated economy under the new plan. It also calls for expanding the use of the digital tenge, exploring digital instruments for cross-border payments and developing a more tightly regulated cryptocurrency-mining industry.
The National Bank expects the initial pool of tokenized assets to include government securities, corporate bonds, real estate, infrastructure projects and mineral deposits. Suleimenov called on the Finance Ministry, Samruk Kazyna Sovereign Wealth Fund, Baiterek Holding, KASE and the Central Securities Depository to prepare the first large-scale issuances.
Tokenization records rights to an asset on a digital ledger. It can divide assets such as real estate, infrastructure or corporate debt into smaller digital units that investors can buy and trade. Supporters say the technology could accelerate transactions, reduce administrative costs and make investments previously dominated by large institutions accessible to a wider range of investors.