Tether to Explore Tenge Stablecoin With Kazakhstan's Central Bank

Tether, the issuer of the USDT stablecoin, has signed an agreement with Kazakhstan's central bank to examine the creation of a tenge-pegged token and the placement of real-world assets on a blockchain, according to reporting from Decrypt, Cointelegraph and CoinDesk.

The National Bank of Kazakhstan said the collaboration will involve studying a stablecoin tied to the local currency as well as tokenized real-world assets, CoinDesk reported. Cointelegraph described the arrangement as covering a tenge-backed stablecoin pilot and a framework for tokenizing real-world assets, framing it as part of the country's effort to grow its digital asset sector.

Under the deal, Tether would help the central bank assess both the feasibility of the currency-linked token and the mechanics of moving physical or financial assets onto a blockchain.