Kazakhstan wants to enter the cryptocurrency market – with its own fiat-backed digital asset.
The country's government-supported Astana International Finance Center (AIFC) said Tuesday it had signed a deal of cooperation with Maltese firm Exante.
In a press release, Exante, which calls itself a "next generation investment company," said it would work with the AIFC to develop the ex-Soviet nation's untapped cryptocurrency market.
"Blockchain and cryptocurrencies are entering the mainstream of today's economic reality," Kairat Kelimbetov, governor of the Astana International Finance Center, said in the press release Tuesday.
"Astana's leading financial regulators have already commenced their work and are laying the foundation for Kazakhstan's fintech-ecosystem. We believe that the AIFC can become an international hub for blockchain operations and the development of the digital assets market is our key priority in the near future."