| Developers: | Intebix, Eurasian Bank (Kazakhstan) |
| Date of the premiere of the system: | October 2022 |
| Branches: | Financial Services, Investments and Auditing |
2022: Market Entry
In October 2022, it became known about the launch of crypto-currency cards in Kazakhstan. This is a joint project of the Eurasian Bank and the Intebix crypto exchange.
According to Natalia Romenskaya, Advisor to the Chairman of the Board of the Eurasian Bank for Crypto Initiatives, the holder of the crypto card will store digital currency in a wallet, and the conversion into tenge will take place automatically at the time of purchase.
Romenskaya noted that by October 10, 2022, Kazakhstanis can already convert cryptocurrency into tenge as part of a pilot project on the basis of the Astana International Financial Center (AIFC). The very center noted that a Kazakhstani, before starting to use cryptocurrency, must register on the website of the crypto exchange, undergo testing for financial literacy and investment experience.
Шаблон:Quote "All customers of the crypto exchange are recognized as retail investors by default before they undergo testing," the organization explained. Also, the client must go through the identification procedure: you will need to provide passport or identity card data, as well as go through additional identification procedures (for example, biometric identification). The crypto exchange has the right to request additional documents.
After that, you need to transfer digital assets or fiat funds to the exchange accounts to start trading for further investment.
{{quote "When paying with cryptocurrency cards, most crypto exchanges in the world conduct the transaction itself with conversion to fiat currency. This is mandatory, since very few jurisdictions in the world have recognized cryptocurrency as a means of payment. In Kazakhstan, this is also a digital asset, so direct payment by this means is impossible, - explained Natalya Romenskaya. }} In June 2022, the Chairman of the National Bank of Kazakhstan Galymzhan Pyrmatov said that the regulator is interested in technologies of the cryptocurrency industry. The head of the National Bank said that the employees of the organization are very active in this direction.[1]
Notes
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