Key Highlights
- Solana Foundation, AirAsia MOVE, and Intebix signed an LOI to explore launching Evo (KZTE), a Kazakhstani tenge–backed stablecoin on Solana.
- The project will test using stablecoins for travel payments inside AirAsia MOVE, including flights and hotel bookings in Kazakhstan.
- Kazakhstan’s growing crypto regulation and digital finance push support the move toward real-world blockchain payment use cases.
Solana Foundation, together with AirAsia MOVE, a travel app, and Intebix, a regulated crypto exchange in Kazakhstan, today announced signing a Letter of Intent (LOI) to explore bringing Evo (KZTE), a stablecoin linked to the Kazakhstani tenge, onto the Solana blockchain.
According to the official release, the three entities want to study how Evo (KZTE) can be used inside the AirAsia MOVE travel platform in Kazakhstan.
AirAsia MOVE’s travel network sets the stage
AirAsia MOVE already has a large user base, with more than 17 million monthly users, and connects people to around 700 airlines and about 1 million hotels around the world.
Because of this, the platform is seen as a strong place to test this new payment system. In this project, the companies will check how users could pay for travel using stablecoins instead of only using bank cards or traditional money.
The design work will include checking how the system works technically on Solana, how fast payments can be processed, and how settlements between parties will happen. They will also look at legal rules in Kazakhstan to make sure everything follows the country’s financial regulations.
Intebix will act as the local regulated partner, helping align the project with national requirements. At the same time, AirAsia MOVE may also connect this payment system with other parts of its platform, such as loyalty rewards and travel bookings.
Testing payments, speed, and regulation in Kazakhstan
Lim Ben-Jie, Chief of People and Partnership Officer at AirAsia MOVE, explained the company’s view on the project.
“This initiative reflects AirAsia MOVE’s ambition to redefine the future of travel commerce through innovation and emerging technologies. We are pleased to collaborate with Intebix and the Solana Foundation to explore such an exciting pilot project…”
He also explained that with the “Evo stablecoin and its regulatory pathways,” the company’s main goal is to make it easier for travellers, especially in places like Kazakhstan, to pay for flights and hotels using digital money in the future.
“As digital asset adoption grows globally, this could eventually enable travellers from markets like Kazakhstan to seamlessly book flights and hotels on AirAsia MOVE using digital assets like stablecoin,” he said.
Kazakhstan’s growing push into digital finance
Meanwhile, this project aligns with Kazakhstan’s initial plan for digital finance. In fact, the country has been building clearer rules for crypto through the Astana International Financial Centre (AIFC), which introduced licensing systems for exchanges and custodians in 2023.
Moreover, the country’s central bank, in March, announced its plan to invest $350 million into cryptocurrency and companies that deal with digital assets. The bank said it will take the funds from its gold and Federal Reserve to invest in shares of crypto firms as well as technology firms.
The new collaboration places Solana in a stronger position within Central Asia’s emerging digital asset sector while giving AirAsia MOVE a pathway to expand blockchain-based payments beyond Southeast Asia into new travel markets.
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