Kazakhstan’s Evo stablecoin is built with Solana, Mastercard
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Kazakhstan is launching a homegrown stablecoin backed by Solana, Mastercard, and one of the country’s largest banks. Summary The National Bank of Kazakhstan unveiled Evo (KZTE), a tenge-pegged stablecoin issued by local crypto exchange Intebix. Part of the country’s regulatory sandbox, the pilot enlists Eurasian Bank and Mastercard as early partners, marking a significant step in Kazakhstan’s digital transformation strategy It’s also a test bed for how stablecoins could reshape payments for consumers and businesses alike. Stablecoin adoption is accelerating globally, and governments are racing to stay ahead of the curve. On Tuesday, Sept. 23, the National Bank of Kazakhstan announced the launch of the stablecoin pilot project under the country’s regulatory sandbox regime, local media reported. Namely, Kazakhstan launched Evo (KZTE), a stablecoin pegged to its local currency, the tenge, and running on the Solana (SOL) blockchain. Local crypto exchange Intebix was the issuer, while the Kazakh bank Eurasian Bank and Mastercard were key partners in the launch. 🚀 Kazakhstan launches its first tenge-backed stablecoin on Solana!Today, the The National Bank of Kazakhstan @nationalbank_kz announced the start of a pilot project to issue a tenge-backed stablecoin (KZTE) within its regulatory sandbox.The issuer is @Intebix (a licensed… pic.twitter.com/XQXlLtbBkE — Superteam Kazakhstan (@SuperteamKZ) September 23, 2025 National Bank Governor Timur Suleimenov stated that the move was a part of the country’s ongoing efforts in digital transformation. He also outlined the benefits to the country’s banking system. “We see growing interest in digital currencies and blockchain solutions worldwide. Kazakhstan is also taking a step forward: today, we are launching the first national stablecoin backed by the tenge. This will expand financial opportunities, speed up payments, and improve the security of transfers,” he noted. Kazakhstan to tap stablecoin for business Kazakhstan’s local Eurasian Bank will be one of the first banks to start…
