After Binance obtained a license in Kazakhstan earlier this month, NBB Chain has approached the country’s Central Bank to discuss possibilities for a digital tenge.
NBB Chain Approaches Central Bank of Kazakhstan
In a series of tweets, Changpeng Zhao (CZ), the founder and CEO of Binance, revealed the latest developments in the NBB Chain’s relationship with Kazakhstan:
Quick story about the Binance team relentlessly pushing crypto adoption globally.
2 weeks ago Binance got a license in Kazakhstan. But we didn’t stop there. (1/4)
– CZ Binance (@cz_binance) October 26, 2022
Thus, we learn that the country’s Central Bank is conducting tests for a digital version of tenge, and that the NBB Chain could take part in these experiments:
Since then, our team has met with the First Deputy Governor of the National Bank of Kazakhstan (NKB), Berik Sholpankulov, and the Head of the Payments and Technology Centre, Binur Zhalenov. We introduced them to the NKB Chain community to discuss the tests incorporating their MNBC (digital tenge) […]. “
If these discussions are successful, the BNB Chain will join this pilot programme.
One more license for the Binance platform
This news comes as earlier this month Binance was granted a licence in Kazakhstan to operate as a digital asset service provider.
Gleb Kostarev, the regional head of Asia had been pleased with the government’s stance on cryptocurrencies:
We welcome Kazakhstan’s commitment to becoming a leading player in the field of new digital technologies and the cryptocurrency ecosystem. The government has made significant changes to the relevant legislation and regulatory environment, setting the highest compliance standards for cryptocurrency platforms. “
Binance thus continues its process of global compliance, but the possibility of becoming a major player for an MNBC through its blockchain is even more striking. Indeed, although this would be totally unprecedented and would be a strong signal for the ecosystem, it would also raise questions about the country’s sovereignty.
However, nothing is done yet and we do not know to what extent this partnership between the NBB Chain and Kazakhstan could take place. Nevertheless, it is a sign of Binance’s desire to be a sustainable player.
