Skip to main content

National Bank of Kazakhstan to Integrate Digital Tenge With BNB Chain, Binance CEO Unveils

National Bank of Kazakhstan to Integrate Digital Tenge With BNB Chain, Binance CEO Unveils

The central bank of Kazakhstan intends to use Binance’s blockchain platform Bnb Chain for the deployment of its upcoming digital currency. The decision was made public on social media by Changpeng Zhao, the chief executive of the global crypto exchange which was recently licensed to work in the country.

Kazakhstan to Employ Binance Blockchain Infrastructure for Its Central Bank Digital Currency Project

Kazakhstan’s monetary authority is going to integrate its central bank digital currency (CBDC) into the Bnb Chain developed by Binance, the founder and CEO of the world’s leading crypto trading platform, Changpeng Zhao (CZ), announced on Twitter.

Binance was recently granted license to provide a range of services for digital assets, including exchange and custody, while operating from the Astana International Financial Center (AIFC), the Central Asian nation’s financial hub.

On Wednesday, Zhao revealed that after it received the regulatory approval, the company met with the First Deputy Governor of the National Bank of Kazakhstan (NKB) Berik Sholpankulov and Binur Zhalenov, head of the bank’s Payment and Financial Technologies Development Center.

Representatives of the exchange introduced the central bank officials to the Bnb Chain community and discussed with them testing the integration of the digital Kazakhstani tenge with the blockchain platform. In a series of tweets, CZ also remarked:

If you’re not aware, NKB recently launched a CBDC pilot in a controlled environment and with real consumers and merchants.

Binance’s chief executive emphasized his team is looking forward to NKB preparing use cases for its digital currency which will allow it to be seen how they could be integrated into Bnb Chain. The ultimate goal will be to bridge the gap between traditional banking and the crypto ecosystem.

Kazakhstan, which became a hotspot for crypto mining in the aftermath of China’s crackdown on the industry last year, has been taking steps to regulate its crypto space, including the activities of coin trading platforms. A transaction for the purchase of bitcoin with the national fiat was recently conducted by a local bank and another licensed exchange, Intebix.

Binance has previously pledged support for the “safe development” the country’s digital asset market. The exchange and the government in Nur-Sultan recently agreed to share information on financial crimes involving cryptocurrencies under a Memorandum of Understanding signed with Kazakhstan’s Financial Monitoring Agency.

What do you think about the cooperation between Binance and Kazakhstan on the central bank digital currency project? Tell us in the comments section below.



from Bitcoin News https://ift.tt/xa6h5HS
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more