Changpen Zhao shared the details of the Binance team’s cooperation with the Central Bank of Kazakhstan.
According to the head of the cryptocurrency exchange Binance Changpen Zhao on the social media pages, his team presented to the central bank of Kazakhstan – the National Bank of Kazakhstan its own technological solution in the form of blockchain BNB Chain for the state steiblocoin project class CBDC. Mr. Zhao also recalled that “two weeks ago, Binance received a license in Kazakhstan.”
It can be assumed that so far we are talking about preliminary elaboration of the technical side of the pilot project of the digital tenge, one of the technological components of which could potentially be the blockchain BNB Chain, after and in case of appropriate testing and approval from the decision makers, of course. It is worth noting that in the section website of the National Bank of Kazakhstan, dedicated to the pilot project of the digital tenge, there is currently no mention of Binance or the blockchain BNB Chain.
According to local media reports, the practical testing of Kazakhstan’s digital currency is already underway at the level of the regulator, as well as with the participation of second-tier banks. It is expected that by the end of this year, based on the results of the experiments, a proposal will be formed and submitted to the President of Kazakhstan for consideration. This document will formulate options for decisions on the launch of digital tenge. In this case, only after receiving a decision from the president of Kazakhstan, it will be possible to talk about the possible timing of implementation of digital tenge.
If we talk about Binance, the head of the cryptocurrency exchange Changpen Zhao expressed the hope that during the pilot project of digital tenge “will be tested by practical cases, which will allow to build links between traditional banking and the cryptocurrency ecosystem. Recall that in May. took place Mr. Zhao’s meeting with the leadership of Kazakhstan.