Kazakhstan Considers Allocating National Fund Assets to Crypto Reserve

Friday Nov 7 2025 14:20

Duration

2 min

  1. 1. Kazakhstan Eyes Crypto Reserve Funded by National Fund

  2. 1.1 Kazakhstan's Comprehensive Crypto Push

Kazakhstan Eyes Crypto Reserve Funded by National Fund

The government of Kazakhstan is reportedly considering channeling a portion of its National Fund assets, along with a segment of its gold and foreign exchange reserves, to fund a cryptocurrency reserve. This initiative signals a move toward integrating digital assets into the country's financial framework. According to The Times of Central Asia, Berik Sholpankulov, deputy chairman of Kazakhstan’s National Bank, announced the initiative during a recent parliamentary session. A Bloomberg Law report suggests the government aims to allocate between $500 million and $1 billion to the effort. “I think by year end, January next year, we will have it up and running,” Sholpankulov stated. He added that the creation of a state-managed crypto asset fund is under discussion among government officials. “We are considering the possibility of using part of the National Fund’s assets and gold and foreign exchange reserves for investment in crypto assets,” he elaborated. The central bank official also noted that confiscated assets “will be transferred to the state digital asset fund” to be “stored as a strategic reserve of the government.” Further, the Ministry of Digital Development has proposed allowing state-owned entities to supply energy to private cryptocurrency mining companies in exchange for cryptocurrency.

Kazakhstan's Comprehensive Crypto Push

This reported initiative follows Kazakhstan’s launch of a state-backed crypto reserve in partnership with crypto exchange Binance in late September, with BNB (BNB) as the first digital asset in its portfolio. Earlier in October, Kazakhstan shut down 130 cryptocurrency platforms involved in money laundering schemes and seized $16.7 million in cryptocurrency. President Kassym-Jomart Tokayev has repeatedly advocated for the creation of a “full-fledged ecosystem of digital assets” and urged regulators to accelerate work on integrating crypto into the nation’s broader economic framework. The country is also implementing a dual model, piloting its central bank digital currency while launching a stablecoin in collaboration with Solana and Mastercard.

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Written by:

Sophia Claire

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