Kazakhstan to Introduce Yuan-Based QR Payments with China by End-2026

Kazakhstan is set to launch QR-code payments with China by the end of 2026, marking an expansion of the yuan's use beyond trade and investment into everyday transactions.

The move comes as part of Beijing's efforts under the Belt and Road Initiative to deepen trade and financial ties with Central Asian countries.

Binur Zhalenov, deputy governor of the National Bank of Kazakhstan, stated that 11 countries, including China, India, and the UAE, are preparing to introduce cross-border payment services with Kazakhstan.

The system with China is expected to begin operating by year-end, allowing citizens of both countries to make payments using mobile QR codes while visiting each other's countries.

This initiative aligns with a broader de-dollarisation trend, where countries are seeking alternatives to the US dollar in international transactions.