Kazakhstan, one of the world’s biggest countries in terms of Bitcoin mining hash power, is continuing to explore a possibility of a central bank digital currency .
The National Bank of Kazakhstan has completed a prototype of a digital tenge platform, governor Erbolat Dossayev stated .
The central bank is now preparing to publish preliminary results of digital currency testing and a pilot CBDC project on Wednesday, Dossayev said. He noted that the pilot involved local financial companies and some international partners.
Despite actively moving forward with CBDC testing, Kazakhstan is yet to decide on whether to launch a digital representation of the national currency. According to Dossayev, the central bank expects to make such a decision in December 2022.
The National Bank of Kazakhstan has been increasingly paying attention to CBDC developments abroad, as multiple countries around the world develop their own digital currencies, the governor added.
