Tether and Kazakhstan authorities study a tenge stablecoin and tokenization pilot

An October 7 memorandum outlines research and pilot proposals with the National Bank and Alatau City Authority; it does not announce a circulating stablecoin.

RWA Wire Research·October 7, 2026·Updated October 11, 2026·1 min read

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Tether announced on 7 October that it had signed an MOU with the National Bank of Kazakhstan and the Alatau City Authority. The parties will study stablecoin issuance models and prepare a concept and pilot proposal for a tenge-pegged stablecoin.

The agreement also covers a tokenization framework and potential use of Tether’s Hadron platform in Alatau. Workshops and training are part of the stated program.

What the agreement does not establish

A proposal to examine a stablecoin is different from creating one. The release does not provide the reserve composition, redemption terms or customer availability of a launched tenge product.

The involvement of Kazakhstan’s central bank also does not, by itself, turn a privately issued token into central-bank money. Readers should distinguish the authority participating in the research from the eventual issuer and legal claim. At this stage, the verified development is a joint exploration program with specified workstreams.

Sources

Tether — Kazakhstan and Alatau MOU

Key takeaways

//The agreement concerns exploration and a proposed pilot, rather than issuance of a new national-currency token.

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