Kazakhstan has launched the Alem Crypto Fund, a state-backed crypto reserve fund in partnership with Binance Kazakhstan. The fund will start with a purchase of BNB as a long-term reserve asset, aiming to build a strategic reserve and invest in crypto long-term
This comes shortly after Kazakhstan launched the tenge-backed stablecoin KZTE on the Solana network. Kazakhstan is a major crypto mining hub, once ranked second globally in Bitcoin hashrate. In 2025, the country launched CryptoCity, which allows crypto payments, and plans to build a strategic crypto reserve, aiming for a comprehensive digital asset ecosystem.