{"id":26658,"date":"2022-10-27T16:46:02","date_gmt":"2022-10-27T11:16:02","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=26658"},"modified":"2022-10-27T16:46:02","modified_gmt":"2022-10-27T11:16:02","slug":"kazakhstan-to-integrate-bnb-chain-in-its-cbdc","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/kazakhstan-to-integrate-bnb-chain-in-its-cbdc\/","title":{"rendered":"Kazakhstan to integrate BNB Chain in its CBDC"},"content":{"rendered":"<p>The National Bank of Kazakhstan (NBK) has decided to test BNB Chain, the blockchain network, for integration into the country\u2019s Central Bank Digital Currency (<a href=\"https:\/\/coinswitch.co\/switch\/glossary#cbdcs\" target=\"_blank\" rel=\"noopener\">CBDC<\/a>) project. The country\u2019s central bank has been developing its CBDC called Digital Tenge since May 2021.<\/p>\n<p>Changpeng Zhao, the CEO of the company behind the chain, announced the development via Twitter. The team, according to his tweet, met with the first deputy governor of NKB, Berik Sholpankulov, and the head of the Payments and Technology Center, Binur Zhalenov, to discuss the testing and integration.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Quick story about the <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Binance<\/a> team relentlessly pushing crypto adoption globally.<\/p>\n<p>2 weeks ago Binance got a license in Kazakhstan. But we didn&#39;t stop there. (1\/4)<\/p>\n<p>&mdash; CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1585300953271783424?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">October 26, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The bank has been looking to see how CBDCs can help bridge the gap between traditional banking and the crypto ecosystem for some time now. It launched the Digital Tenge pilot project with a preliminary license in May 2021. Binance has since been working with the Kazakhstan government and regulators to help drive crypto adoption in the country. A permanent license from the AIFC Financial Services Authority (AFSA) was given to Binance on 6 October 2022.<\/p>\n<p>In July this year, the central bank developed a decision-making model for its implementation. The final call on implementation will be taken by the end of this year.<\/p>\n<p>Earlier, the central bank had explained that it hoped that the use of CBDCs would help in furthering financial inclusion. CBDCs were also meant to serve as an extra tool for financial market participants and government agencies creating innovative services based on smart contract technology. The bank aims to use Digital Tende in cross-border payments too.<\/p>\n<p>Earlier this month, Binance even <a href=\"https:\/\/coinswitch.co\/switch\/news\/binance-expands-its-footprint-in-kazakhstan\/\" target=\"_blank\" rel=\"noopener\">signed<\/a> a Memorandum of Understanding (MoU) with the Kazakhstan Financial Monitoring Agency of the Republic to help expand its global law enforcement training program.<\/p>\n<p>The country\u2019s president, Kassym-Jomart Tokayev, also recently underlined the nation\u2019s aim of becoming a leader in the crypto industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Bank of Kazakhstan (NBK) has decided to test BNB Chain, the blockchain network, for integration into the country\u2019s Central Bank Digital Currency (CBDC) project. The country\u2019s central bank has been developing its CBDC called Digital Tenge since May 2021. Changpeng Zhao, the CEO of the company behind the chain, announced the development via [&hellip;]<\/p>\n","protected":false},"author":79,"featured_media":26659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-26658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Sunil Paul\",\"description\":\"Sunil Mathew Paul brings the best of both worlds, combining his flair for writing with expertise in delivering niche content for the investment community.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/sunil-pcoinswitch-co\/\",\"sameAs\":[\"sunilmathewpaul\",\"https:\/\/www.linkedin.com\/in\/sunil-mathew-paul-382302a\/\"],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/98e19e7160d41179bbf77157108dfaf6?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":[67],"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=26658"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26658\/revisions"}],"predecessor-version":[{"id":26662,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26658\/revisions\/26662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/26659"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=26658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=26658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=26658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}