Minister spoke about a new payment method in Kazakhstan
Tengrinews.kz – Minister of Digital Development, Innovation, and Aerospace Industry Zhaslan Madiyev spoke about a new payment method in Kazakhstan.
A day earlier, the National Bank of Kazakhstan announced the launch of a crypto card project. According to Madiyev, the ministry supports this initiative.
“We support it. From the very beginning, we proposed a similar reform: to introduce the issuance of crypto cards, the opening of crypto exchanges, the legalization of cryptocurrency, and the installation of crypto ATMs. I believe we’ll see all of this in the near future. These are very important projects. People need access to official crypto-fiat channels so that they can transfer funds from the unofficial sector to the official one,” the minister said in the corridors of the Mazhilis.
According to Madiyev, the initiative will allow the government to track the flow of funds in this sphere and will expand investment tools available to citizens.
“In that case, monetary and fiscal authorities will understand the volumes of funds circulating in this area. We believe this will provide Kazakhstani citizens with an additional opportunity to invest as an alternative investment tool. It’s also a way to preserve the value of their savings,” the official noted.
At the same time, the minister emphasized the importance of a balanced investment approach.
“However, one must not forget that diversification is essential. You can’t rush headlong into a single asset class or fully switch to one particular currency. Risks should always be spread out. The more diversified the investment portfolio, the lower the risks,” he added.
A day earlier, the National Bank of Kazakhstan announced the launch of the crypto card project. These cards will allow users to make payments using cryptocurrency stored in wallets on licensed crypto exchanges of the Astana International Financial Centre.
“This solution provides a safe and convenient way to integrate the circulation of digital assets into the existing payment infrastructure,” the National Bank’s statement said.