Kazakhstan to build central bank digital currency on BNB Chain
Officials in Kazakhstan continue their close relationship with Binance, as the National Bank plans to integrate its CBDC on the BNB Chain. In an announcement on Twitter, Changpeng Zhao, the founder and CEO of Binance, said the network will be a major component of Kazakhstan’s latest Web3 endeavor.The Binance founder tweeted that the National Bank of Kazakhstan (NBK) will integrate its central bank digital currency (CBDC), the digital tenge, on the BNB Chain, the underlying blockchain of the Binance network.National Bank of Kazakhstan (NKB) will integrate their CBDC on @BNBchain. #BNB....
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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....
Binance CEO Changpeng Zhao revealed that the BNB Chain will play a role in Republic of Kazakhstan’s central bank digital currency (CBDC). The central Asian country has been in the race for a CBDC since May 2021. As the country’s central bank announced late last year, a decision on the feasibility of launching a CBDC […]
An intervention by the Central bank of Kazakhstan would help stabilize matters a bit, although it would be quite a challenge to rebuild trust in the Tenge after three iterations of devaluing the currency. Moreover, consumers are not putting their trust in the Central Bank either, as the financial trouble has been putting a lot of negative attention on the financial institution. By the look of things, various central banks in the world are on the verge of issuing their digital currency. Whether or not this approach will put the concept of digital currency on the radar of consumers, remains....
The Central Bank of the Russian Federation will consider ways to use bitcoin blockchain technology when it meets in June as oil exporting countries such as Kazakhstan wrestle with eroding confidence in currency caused by low oil prices. Grigory Marchenko, the ex-chairman of the National Bank of Kazakhstan, wondered what impact cryptocurrency would have on the country’s monetary policy as it struggles to find a solution to the negative impact of low oil prices, according to nur.kz, a Kazakhstan news site. Marchenko said the country’s currency exchange rate is tied to the price of oil. Three....
It wouldn't be an ordinary day without another world government coming out against digital currency bitcoin. This time around it's the Central Bank of Kazakhstan, with its governor making some interesting comments. Kairat Kelimbetov, the bank's governor, said that bitcoin may be deemed as a ponzi scheme by the central bank at a press conference Tuesday in Almaty. "The issue is rather complicated. Some claim the currency is a good tool of money laundering and an absolute evil. That's why some monetary authorities, like those in China, have banned Bitcoin," said Kelimbetov, incorrectly....