Kazakhstan eyes up to $700 million investment in crypto assets and firms
Kazakhstan plans to invest up to $700 million in crypto assets and infrastructure companies from state reserves starting in April or May.Summary
The National Bank of Kazakhstan is planning to establish a state crypto reserve, potentially investing up to $700 million in crypto assets and related firms, funded partly by $350 million from its gold and foreign exchange reserves, with additional funds coming from the National Fund and confiscated crypto.
Governor Timur Suleimanov confirmed the plan, while Deputy Chair Aliya Moldabekova specified that investments, set to begin in April or May, will focus on companies building and maintaining crypto infrastructure, rather than large direct cryptocurrency purchases.
The total potential reserve size of $700 million would represent about 0.5% of both the central bank’s reserves and the National Fund’s assets, aligning with earlier reports of Kazakhstan seeking to diversify its economy through indirect exposure to digital assets like Bitcoin via ETFs and asset companies.
(Source：Crypto Briefing)