- •Kazakhstan has launched its first state-supported cryptocurrency reserve, the Alem Crypto Fund, seeded with Binance Coin (BNB) and managed under the Astana International Financial Centre.
- •This move reflects the country’s broader strategy to foster digital assets, strengthen regulatory oversight, and position itself as a regional hub for crypto innovation.
Kazakhstan has taken a major step into the digital asset arena with the launch of its first state-supported cryptocurrency reserve, seeded with Binance Coin (BNB). The initiative, announced by the Ministry of Artificial Intelligence and Digital Development.
Alem Crypto Fund: Kazakhstan’s New Digital Asset Vehicle
The reserve will operate under the Alem Crypto Fund, managed by Qazaqstan Venture at the Astana International Financial Centre. According to the ministry, the fund’s primary goal is to establish long-term holdings of digital assets while building a strategic reserve.
BNB was chosen as the inaugural token, highlighting its close association with Binance and signaling the government’s trust in well-established crypto infrastructure.
Binance Kazakhstan, a locally licensed subsidiary of the global Binance network, has been named as the fund’s strategic partner. The firm will operate under Kazakhstan’s regulatory framework, further cementing collaboration between the government and private crypto platforms.
While the size of the initial investment has not been disclosed, the fund represents a clear step toward integrating digital assets into state strategy.
Part of a Broader Digital Push
The BNB-backed reserve is part of a wider digital strategy in Kazakhstan. Just days earlier, the country launched its own Tenge-backed digital currency, KZTE, built on the Solana blockchain in partnership with Mastercard, Intebix, and Eurasian Bank. Additionally, plans for “CryptoCity,” a pilot zone allowing businesses to transact in digital assets, have been in motion since May 2025.
President Kassym‑Jomart Tokayev has also urged lawmakers to prepare legislation for a strategic crypto reserve and a comprehensive digital asset ecosystem by 2026, signaling a coordinated effort to make Kazakhstan a regional hub for digital finance.
Mining Roots and Regulatory Oversight
Kazakhstan’s embrace of crypto is bolstered by its strong mining industry. Following China’s mining crackdown, the country ranked second globally in Bitcoin hashrate in 2021. However, rapid growth has brought regulatory challenges, including the 2024 shutdown of 36 unlicensed exchanges. The Alem Crypto Fund reflects a careful approach: state-supervised crypto participation that balances innovation with regulatory oversight.
Binance Partnership and National Reserve Ambitions
Kazakhstan has a long-standing collaboration with Binance, dating back to 2022 when CEO Changpeng Zhao signed an MOU to help design the country’s digital asset regulatory framework. The new fund reinforces this partnership by placing BNB at the center of the reserve’s holdings.
Although the Alem Crypto Fund is not a central bank reserve, it could pave the way toward a broader state‑backed crypto strategy, potentially funded by seized assets and mining revenues.
Kazakhstan joins a small but growing group of nations exploring state‑backed crypto reserves. El Salvador pioneered this approach in 2021 with a Bitcoin reserve and legal tender status.
Bhutan has quietly accumulated Bitcoin since 2019, while Brazil and Indonesia are actively exploring frameworks for national digital asset reserves. With this move, Kazakhstan signals its ambition to become a key player in the global digital asset landscape.