Kazakhstan aims to issue tokenized government bonds in Q1 2027. The plan follows a sale of blockchain-based central bank notes on the Kazakhstan Stock Exchange this month. The roles of Solana and BitGo in the bond sale remain unconfirmed.
Kazakhstan is aiming to issue tokenized government bonds in the first quarter of 2027, building on a $22.3 million sale of blockchain-based central bank notes. National Bank Governor Timur Suleimenov outlined the plan at the 14th Congress of Financiers in Almaty. He said the timing was most likely the first quarter, and the bank plans to work with the Finance Ministry on the issuance.
Central bank sells first tokenized notes
The bank's first tokenized note placement came earlier this month. The National Bank sold 50 billion tenge ($112 million) in 91-day notes through the Kazakhstan Stock Exchange (KASE), and 10 billion tenge of that amount was in tokenized form.
The notes carried a weighted average yield of 15.72%, and total demand reached 1.4 times the amount offered. The country's central bank rate as of 2026 is 15.75%.
Solana and BitGo roles in bond sale unconfirmed
KASE has said its digital asset platform uses the Solana blockchain, with BitGo providing custody infrastructure. Neither has been confirmed as a participant in the planned government bond issuance.
The tokenized notes offer a test of the infrastructure. The planned bonds, however, would represent Finance Ministry debt rather than central bank obligations.
Part of a wider push into blockchain-based finance
The initiative is part of a broader push into blockchain-based finance. In October, the National Bank tapped Tether to explore stablecoins and asset tokenization, and officials have also outlined plans to tokenize real estate and other assets.
Other countries, including Latvia, are also exploring the tokenization of their national bonds.
Source: CoinDesk
Trading involves risk.
Risk Disclaimer
