The post How Solana is Building a New Stablecoin for Kazakhstan appeared on BitcoinEthereumNews.com. Kazakhstan is planning to launch “Evo,” a new stablecoin pegged to its national currency, Tenge. Solana, Mastercard, and several local organizations are supporting the project. This project aims to create a cohesive local Web3 industry for the nation. Hopefully, this high level of local commitment and international partnerships can ensure success. Sponsored Sponsored Kazakhstan’s New Stablecoin Kazakhstan is no stranger to the crypto industry, spending several years as an international Bitcoin mining hub. Although this industry has since diminished, the government is still interested in Web3, launching a Bitcoin ETF and pushing for a Crypto Reserve this year. Today, Kazakhstan showed another interest in crypto, as local reporters claim that the nation is planning to launch its own stablecoin. It will be called “Evo” (KZTE) and pegged to the tenge, Kazakhstan’s national currency. Seeing as previous plans to launch a tenge-based CBDC fell apart, this plan might prove more fruitful. Although local media conveyed the government’s enthusiasm for exploring deeper crypto connections, this coverage was a little light on Web3-specific details. However, Tamar Menteshashvili, Solana’s Head of Stablecoins, provided a wide range of details about Kazakhstan’s project, which aims to build a local Web3 ecosystem: Sponsored Sponsored A Strong Lineup of Partners Kazakhstan will issue its new stablecoin on Solana’s blockchain, partnering with several other firms to ensure smooth market access and customer utility. Intebix, a licensed crypto exchange, will issue the KZTE tokens. Mastercard is also a partner, which has been deepening its Web3 presence lately. Additionally, a local team of Solana ecosystem builders is contributing to KZTE. Although it isn’t clear how Superteam Kazakhstan will support this stablecoin, the group aims to unite local founders and projects to create a thriving local economy. Evo could surely assist this goal. The Eurasian Bank, one of the nation’s largest lenders, also contributes to… The post How Solana is Building a New Stablecoin for Kazakhstan appeared on BitcoinEthereumNews.com. Kazakhstan is planning to launch “Evo,” a new stablecoin pegged to its national currency, Tenge. Solana, Mastercard, and several local organizations are supporting the project. This project aims to create a cohesive local Web3 industry for the nation. Hopefully, this high level of local commitment and international partnerships can ensure success. Sponsored Sponsored Kazakhstan’s New Stablecoin Kazakhstan is no stranger to the crypto industry, spending several years as an international Bitcoin mining hub. Although this industry has since diminished, the government is still interested in Web3, launching a Bitcoin ETF and pushing for a Crypto Reserve this year. Today, Kazakhstan showed another interest in crypto, as local reporters claim that the nation is planning to launch its own stablecoin. It will be called “Evo” (KZTE) and pegged to the tenge, Kazakhstan’s national currency. Seeing as previous plans to launch a tenge-based CBDC fell apart, this plan might prove more fruitful. Although local media conveyed the government’s enthusiasm for exploring deeper crypto connections, this coverage was a little light on Web3-specific details. However, Tamar Menteshashvili, Solana’s Head of Stablecoins, provided a wide range of details about Kazakhstan’s project, which aims to build a local Web3 ecosystem: Sponsored Sponsored A Strong Lineup of Partners Kazakhstan will issue its new stablecoin on Solana’s blockchain, partnering with several other firms to ensure smooth market access and customer utility. Intebix, a licensed crypto exchange, will issue the KZTE tokens. Mastercard is also a partner, which has been deepening its Web3 presence lately. Additionally, a local team of Solana ecosystem builders is contributing to KZTE. Although it isn’t clear how Superteam Kazakhstan will support this stablecoin, the group aims to unite local founders and projects to create a thriving local economy. Evo could surely assist this goal. The Eurasian Bank, one of the nation’s largest lenders, also contributes to…

How Solana is Building a New Stablecoin for Kazakhstan

2025/09/24 07:11

Kazakhstan is planning to launch “Evo,” a new stablecoin pegged to its national currency, Tenge. Solana, Mastercard, and several local organizations are supporting the project.

This project aims to create a cohesive local Web3 industry for the nation. Hopefully, this high level of local commitment and international partnerships can ensure success.

Sponsored

Sponsored

Kazakhstan’s New Stablecoin

Kazakhstan is no stranger to the crypto industry, spending several years as an international Bitcoin mining hub. Although this industry has since diminished, the government is still interested in Web3, launching a Bitcoin ETF and pushing for a Crypto Reserve this year.

Today, Kazakhstan showed another interest in crypto, as local reporters claim that the nation is planning to launch its own stablecoin. It will be called “Evo” (KZTE) and pegged to the tenge, Kazakhstan’s national currency.

Seeing as previous plans to launch a tenge-based CBDC fell apart, this plan might prove more fruitful.

Although local media conveyed the government’s enthusiasm for exploring deeper crypto connections, this coverage was a little light on Web3-specific details.

However, Tamar Menteshashvili, Solana’s Head of Stablecoins, provided a wide range of details about Kazakhstan’s project, which aims to build a local Web3 ecosystem:

Sponsored

Sponsored

A Strong Lineup of Partners

Kazakhstan will issue its new stablecoin on Solana’s blockchain, partnering with several other firms to ensure smooth market access and customer utility. Intebix, a licensed crypto exchange, will issue the KZTE tokens. Mastercard is also a partner, which has been deepening its Web3 presence lately.

Additionally, a local team of Solana ecosystem builders is contributing to KZTE.

Although it isn’t clear how Superteam Kazakhstan will support this stablecoin, the group aims to unite local founders and projects to create a thriving local economy. Evo could surely assist this goal. The Eurasian Bank, one of the nation’s largest lenders, also contributes to the project.

Together, these actors aim to create more than a stablecoin for Kazakhstan; they want to build a local crypto ecosystem.

By expanding the crypto-fiat gateway, exchanging digital assets, and supporting transactions via cryptocurrency cards, Evo could bring the country on-chain in many key ways.

Ideally, this stablecoin will bridge the gap between TradFi and Web3 in Kazakhstan. State institutions, major private banks, and international credit card companies are participating, clearly showing strong commitments.

Source: https://beincrypto.com/kazakhstan-stablecoin-solana-mastercard-partnerships/

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UK FCA Plans to Waive Some Rules for Crypto Companies: FT

UK FCA Plans to Waive Some Rules for Crypto Companies: FT

The post UK FCA Plans to Waive Some Rules for Crypto Companies: FT appeared on BitcoinEthereumNews.com. The U.K.’s Financial Conduct Authority (FCA) has plans to waive some of its rules for cryptocurrency companies, according to a Financial Times (FT) report on Wednesday. However, in another areas the FCA intends to tighten the rules where they pertain to industry-specific risks, such as cyber attacks. The financial watchdog wishes to adapt its existing rules for financial service companies to the unique nature of cryptoassets, the FT reported, citing a consultation paper published Wednesday. “You have to recognize that some of these things are very different,” David Geale, the FCA’s executive director for payments and digital finance, said in an interview, according to the report, adding that a “lift and drop” of existing traditional finance rules would not be effective with crypto. One such area that may be handled differently is the stipulation that a firm “must conduct its business with integrity” and “pay due regard to the interest of its customers and treat them fairly.” Crypto companies would be given less strict requirements than banks or investment platforms on rules concerning senior managers, systems and controls, as cryptocurrency firms “do not typically pose the same level of systemic risk,” the FCA said. Firms would also not have to offer customers a cooling off period due to the voltatile nature of crypto prices, nor would technology be classed as an outsourcing arrangement requiring extra risk management. This is because blockchain technology is often permissionless, meaning anyone can participate without the input of an intermediary. Other areas of crypto regulation remain undecided. The FCA has plans to fully integrate cryptocurrency into its regulatory framework from 2026. Source: https://www.coindesk.com/policy/2025/09/17/uk-fca-plans-to-waive-some-rules-for-crypto-companies-ft
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BitcoinEthereumNews2025/09/18 04:15