Solana-Based Evo Stablecoin Could Bridge Kazakhstan’s Tenge and TradFi in Central Bank Pilot With Mastercard

• National tenge‑pegged stablecoin launched in regulatory sandbox

• Issued by Intebix and Eurasian Bank, built on the Solana blockchain.

• Mastercard integration aims to link KZTE with global stablecoin rails and crypto card use cases.

Evo stablecoin (KZTE) pegged to the Kazakhstani tenge — live in the central bank sandbox. Learn how KZTE links crypto and TradFi; read key details and FAQs.

The new Solana‑based Evo stablecoin (KZTE), pegged to Kazakhstan’s tenge, is live in the National Bank’s regulatory sandbox to test crypto‑fiat integration and card payments with industry partners.

What is the Evo stablecoin (KZTE)?

Evo stablecoin (KZTE) is a tenge‑pegged digital token issued within Kazakhstan’s Digital Assets Regulatory Sandbox. It is built on the Solana blockchain and issued by Intebix in partnership with Eurasian Bank, with technical and ecosystem support from Solana and Mastercard.

How does KZTE aim to bridge crypto and TradFi?

KZTE is designed to expand crypto‑fiat rails and enable on‑ and off‑ramp flows for retail and institutional users. The stablecoin supports cryptocurrency exchange functions, crypto card transactions, and pilot integrations with existing banking infrastructure.

Mastercard’s role is to connect KZTE with global stablecoin issuers and payment rails, while the National Bank provides regulatory oversight for testing and limited issuance within the sandbox.

Why is the National Bank backing a stablecoin pilot?

The National Bank of Kazakhstan views the pilot as a strategic tool to develop a national digital asset ecosystem. The sandbox allows controlled issuance, monitoring, and risk assessment while enabling innovation in payments and digital finance.

Who are the key partners and their roles?

• Intebix: Issuing sandbox participant and crypto exchange operator.

• Eurasian Bank: Local banking partner handling fiat backing and custody processes.

• Solana: Blockchain infrastructure providing the ledger for KZTE transactions.

• Mastercard: Payment network partner to connect KZTE with card rails and external stablecoin networks.

Frequently Asked Questions

Is KZTE available to the general public?

Initially no. KZTE is live within the National Bank’s Digital Assets Regulatory Sandbox for controlled testing. Wider public availability will depend on pilot results and regulatory decisions.

How is the tenge peg maintained?

Issuing partners (Intebix and Eurasian Bank) are responsible for fiat reserves and operational controls. The National Bank supervises the sandbox framework to ensure reserve and settlement integrity.

Promotional image of the new tenge-backed stablecoin. Source: Intebix

When will results from the sandbox be published?

The National Bank has indicated pilot monitoring and phased reporting. Expected interim updates will cover technical performance, compliance observations, and user‑case testing outcomes.

Key Takeaways

• National pilot: KZTE is the first tenge‑pegged stablecoin tested under Kazakhstan’s central bank sandbox.
• Industry collaboration: Intebix and Eurasian Bank issue KZTE with technical support from Solana and Mastercard.
• Use cases: Focus on crypto‑fiat rails, exchange liquidity, and crypto card payments during the pilot.

Conclusion

The Evo stablecoin (KZTE) represents a pragmatic step by Kazakhstan to test a tenge‑pegged digital asset within a regulated environment. The sandbox model balances innovation with oversight and could inform broader national digital asset strategies. Follow official National Bank communications and COINOTAG updates for developments and pilot outcomes.

Published: 2025-09-23 | Updated: 2025-09-23 | Author: COINOTAG