Tether signs MOU with Kazakhstan central bank on stablecoin development

Tether announced on its official blog on Oct. 7 that it signed a memorandum of understanding with the Central Bank of Kazakhstan and the Alatau City Administration (ACA), a special administrative body in Kazakhstan, according to the company. The parties plan to jointly study issuance models and use cases for a stablecoin pegged to Kazakhstan’s national currency, the tenge, and pursue a pilot project in Alatau City. They are also reviewing the creation of an asset tokenization framework using Tether’s tokenization platform Hadron. Tether said they also plan to run educational programs on stablecoin issuance, reserve asset management, and real-world asset tokenization.