Tether signs Kazakhstan MoU to explore tenge stablecoin

Tether signed a Memorandum of Understanding with Kazakhstan’s National Bank (NBK) and the Alatau City Authority (ACA) on October 7, 2026, opening a formal track for stablecoin development, asset tokenization and decentralized finance in Central Asia, according to Tether’s primary document.

The headline proposal is a pilot for a stablecoin pegged to the tenge, Kazakhstan’s national currency.

CoinGecko listed UUSDT$0.9997▼0.02% at $0.999815, or $0.000185 (0.0185%) below its $1 peg; CoinGecko also reported a 24-hour change of -0.0%. That market data is unrelated to the Kazakhstan agreement.

The asset-tokenization provisions are less specific. The MoU calls for a tokenization framework in Kazakhstan, potentially using Hadron by Tether, and also covers decentralized finance.

The two Kazakh counterparties operate at different levels of public administration. The NBK is Kazakhstan’s central bank. The ACA is a specialized state administrative body responsible for public administration and regulatory development in Alatau. Their combined participation gives the proposal both a central-bank channel and a city-administration one simultaneously.

In Tether’s announcement, CEO Paolo Ardoino wrote that “Kazakhstan is taking a deliberate, forward-looking approach by exploring asset tokenization and a strategic reserve framework.” Tether identifies itself in the same announcement as the largest company in the digital asset industry, with the stated goal of building digital finance infrastructure across Central Asia.

In Tether’s announcement, Binur Zhalenov, deputy governor of the National Bank of the Republic of Kazakhstan, said collaboration with international technology companies would create opportunities for Kazakhstan’s financial infrastructure, while noting that financial stability, transaction transparency and investor protection would remain the NBK’s priority.

The parties also plan educational workshops, seminars and training programs. What the MoU does establish concretely, in this desk’s reading, is an institutional channel: Tether now has a signed agreement with Kazakhstan’s central bank and Alatau’s administrative authority to study local-currency stablecoins and tokenized assets — which is more than a press release, and less than a product.