The National Bank of Kazakhstan on Wednesday kicked off a central bank digital currency (CBDC) pilot, with one official marking the occasion by making the first retail payment using the digital tenge.
The central bank conducted the first issue of the digital tenge on a platform launched in “pilot mode,” but with real users in the form of second-tier banks and their clients, according to an official announcement.
The CBDC platform is powered by technology that underlies crypto, testing automated and blockchain-based smart contracts for settlements. Participating banks have issued digital vouchers and cards to facilitate transfers.
Wednesday also marked the publication of findings