Kazakhstan Launches Evo Stablecoin with Mastercard and Solana Support

Highlights:

• Kazakhstan launches Evo stablecoin pegged to the national tenge currency.
• Mastercard and Solana support the stablecoin’s technical and global integration.
• The project boosts Kazakhstan’s growing digital asset ecosystem.

The introduction of the Evo (KZTE) stablecoin marks a significant move in digital finance by Kazakhstan. The project is operating under the Digital Assets Regulatory Sandbox of the National Bank of Kazakhstan. According to the report, KZTE is pegged to the tenge and aims to bridge the gap between traditional finance and the growing crypto space.

The Intebix crypto exchange and Eurasian Bank are the issuers of the stablecoin. The blockchain infrastructure is provided by Solana, while the global integration is supported by Mastercard. Such collaborations make Evo a special combination of speed, security, and real-life usability. The introduction sheds light on the effort by Kazakhstan to establish a secure and advanced digital payment ecosystem. Moreover, the Evo stablecoin presents new opportunities to apply crypto in daily transactions.

The National Bank of Kazakhstan has announced the launch of a national stablecoin pilot project, Evo (KZTE), pegged to the local currency, the tenge. The stablecoin is jointly issued by crypto exchange Intebix and local lender Eurasian Bank, built on the Solana blockchain, with…

— Wu Blockchain (@WuBlockchain) September 23, 2025

Kazakhstan Launches Evo Stablecoin to Link Crypto and TradFi

Kazakhstan is launching the Evo stablecoin as a strategy to integrate blockchain innovation with national financial services. The stablecoin facilitates the quick crypto-to-fiat conversion and crypto card payments. This would help in online and offline transactions.

Talgat Dossanov, founder of Intebix, stated that Mastercard will enable Evo to interface with the global network of stablecoins. He stated:

“It is the first instance that the central bank is proactively involved in the issuance of the stablecoin.”

The intervention of the National Bank gives the project legitimacy. Although Evo is not offered by the bank directly, it is closely supervised in the regulatory sandbox. This strategy enables the testing of the stablecoin in the real world in a secure manner. Evo also strives to facilitate broader financial inclusion. Virtual assets are more accessible to users and allow them to transition between fiat and crypto without major obstacles.

Mastercard, Solana, and Intebix Push Digital Payments Forward

Kazakhstan has introduced the Evo stablecoin, with technical and institutional support, which boosts confidence and usability. Users will be able to use crypto to spend as they would with fiat with Mastercard integration. This does away with manual conversions and accelerates digital adoption.

Furthermore, the Evo stablecoin could lead to additional blockchain-powered tools. It could also draw foreign fintech players who would like to operate in the digital finance ecosystem of Kazakhstan. Solana’s blockchain facilitates cheap and quick transactions, while Intebix provides secure exchange and issuance. Together, the three partners provide an end-to-end payment solution aligning with national laws.

Kazakhstan Expands Its Digital Asset Ecosystem

Stablecoins are not the only part of the broader crypto strategy of Kazakhstan. The nation rolled out the first spot Bitcoin ETF in Central Asia in August. The BETF managed by Fonte Capital has a backing of real Bitcoin and trades on the Astana International Exchange.

Kazakhstan is entering a new era for digital assets.

Fonte Capital has introduced Central Asia’s first spot bitcoin ETF on the Astana International Exchange.

The BETF fund is physically backed by bitcoin, with custody from BitGo Trust.

Through secure, U.S.-regulated cold… pic.twitter.com/CgDjZ6ZDaj

— BitGo (@BitGo) August 13, 2025

In addition, the country is developing a national cryptocurrency card. It will allow daily payments in digital currencies, which automatically convert to tenge at the point of sale. In early September, President Kassym-Jomart Tokayev planned a state-sponsored crypto reserve. The strategy covers a legal framework anticipated prior to 2026 and will be overseen by the investment arm of the National Bank.