In the CryptoCity zone, it will be possible to pay for goods and services using cryptocurrency.
The initiative is supported by Kazakhstan’s digitalization plans and the launch of a supercomputer.
Kazakhstan aims to become an innovative and academic IT hub of Eurasia.
Kazakhstan has announced the creation of the experimental CryptoCity zone, where the use of cryptocurrencies will be allowed for purchases, payment for services, and other civil transactions. This was stated by President Kassym-Jomart Tokayev at an international conference. According to him, the project will be part of the country's broader digital strategy.
The head of state emphasized that Kazakhstan is showing significant progress in the field of digital transformation. The CryptoCity initiative is complemented by large-scale investments in infrastructure. In addition, Kazakhstan is expecting the launch of the most powerful supercomputer in Central Asia, which has already been delivered to the country, Tokayev noted.
According to the President, Kazakhstan aims to become an academic and innovative IT hub of Eurasia. To achieve this, branches of foreign universities will be opened in the country, along with the establishment of strategic cooperation in R&D and artificial intelligence.
The creation of CryptoCity reflects the government’s ambition to reform the economy through digital solutions, the President emphasized. The project is aimed at simplifying transactions, expanding access to high-tech tools, and encouraging domestic IT entrepreneurship.
The head of state also noted that the government is focused on reducing regional disparities, developing the middle class, and strengthening human capital. Special attention is being given to supporting youth and high-tech industries with high added value.
According to the official position, CryptoCity will serve as a testing ground for the legal integration of cryptocurrencies into the country’s economy. The project is expected to strengthen Kazakhstan’s position as a regional leader in digital finance and innovation.
As a reminder, it was previously reported that Kazakhstan will legalize crypto exchanges and introduce comprehensive regulation of digital assets.
