The digital tenge, Kazakhstan’s central bank digital currency (CBDC), has been deemed a success following a month-long pilot project.
A range of improvements are planned for 2024 after the digital currency was used for everything from school lunches to gold tokenization during its trial run.
According to the report, the digital tenge was utilized to provide free school lunches to children in Almaty through the local Onay transit card system, with Kazpost serving as an intermediary for these payments.
Also, participating banks has also issued digital tenge cards to focus groups in partnership with Visa and Mastercard, allowing purchases online and in-person, cash withdrawals, and worked both domestically and internationally.
Also Read: Kazakhstan’s Fonte Capital Launches Central Asia’s First Bitcoin ETF
