Kazakhstan's Digital Asset Market Reaches $10.6 Billion in Transactions

Kazakhstan's digital asset market has seen significant growth in recent years, with transactions reaching $10.6 billion by the end of 2025, according to National Bank Chairman Timur Suleimenov.

This comes as the global digital asset market continues to expand, with around 750 million users and a value of $2.3 trillion. Stablecoin transactions have reached an astonishing $50 trillion in 2025, while the tokenized asset market has grown twelvefold over the past three years.

Kazakhstan began building its regulated digital asset market in 2022 with the introduction of a mechanism connecting AIFC crypto exchanges to banks. The country then adopted the Law on Digital Assets in 2023 and launched a regulatory sandbox in July 2025 to support the development and testing of new digital asset products and business models.

The National Bank has designated the Kazakhstan Stock Exchange (KASE) as an operator of digital financial assets, with an ETF linked to Bitcoin futures generating 34,000 transactions worth 20.5 billion tenge on KASE. Three licensed crypto exchange operators are currently active in Kazakhstan, generating around 2 billion tenge in turnover during their first two months of operation.