- KASE and Kazakhstan team up for blockchain initiatives.
- Kazakhstan’s crypto trading volume hit $6.8 billion in 9 months.
- The National Bank of Kazakhstan considers up to $300 million crypto investments.
As Kazakhstan continues to adopt progressive measures to foster innovation, more companies are embracing blockchain technology. In the latest development within Kazakhstan’s blockchain sector, the Kazakhstan Stock Exchange (KASE) has partnered with the Solana Foundation to establish its presence in the industry.
The partnership, formalized through a Memorandum of Understanding (MoU) signed on December 12, 2025, aims to leverage Solana’s advanced blockchain solutions to enhance the efficiency, transparency, and security of financial transactions. With this collaboration, KASE is set to revolutionize the financial landscape of Kazakhstan, offering new opportunities for investors, issuers, and financial institutions, while solidifying its position as a leader in the region’s capital market.
KASE and Solana Partner for Blockchain Growth
According to a recent press release, the Kazakhstan Stock Exchange (KASE) has signed an MoU with the Solana Foundation to embrace its blockchain technology. On December 12, KASE announced the development, paving the way for collaborative initiatives in blockchain and digital finance.
Significantly, this milestone agreement, signed at the Solana Breakpoint 2025 conference in Abu Dhabi, unlocks new cases for KASE and Kazakhstan, including the integration of innovative solutions, asset tokenization, and the development of Solana-powered products.
“Today, a Memorandum of Cooperation was signed between the Kazakhstan Stock Exchange and one of the world’s technology leaders in digital solutions, the Solana Foundation,” stated Adil Mukhamejanov, Chairman of KASE’s Management Board. According to him, the collaboration paves the way for more advanced technological and business solutions at the KASE. He added,
“We were grateful to our partners for their interest and willingness to collaborate and confirmed our intention to expand KASE’s range of services, increasing opportunities for investors both in Kazakhstan and abroad. Holding of a major Solana Breakpoint 2025 forum in Abu Dhabi was a great opportunity for us to meet with Solana’s management, discuss prospects for cooperation, and agree on further steps to develop joint projects.”
Unlocking New Horizons in Digital Finance
Interestingly, the MoU allows KASE and Solana to co-create innovative projects and initiatives in digital financial instruments, capital market infrastructure, and cutting-edge technologies. For KASE, this partnership is a strategic move to integrate into the global blockchain ecosystem and drive revolutionary changes in financial markets.
Kazakhstan’s Blockchain Ambitions
Kazakhstan has been making significant efforts to establish itself as a frontrunner in the global blockchain ecosystem. More and more institutions and platforms are exploring opportunities in the country’s evolving market.
The country’s crypto market is surging, with licensed platforms at the Astana Financial Centre (AIFC) reporting $6.8 billion in trading volumes from January to September 2025, according to Altay Slyamov, Director of the Financial Technologies Department at AIFC’s AFSA.
Lily Liu, President of the Solana Foundation, elaborated on her experiences with various institutions and companies in Kazakhstan, highlighting the Central Asian country’s favourable conditions. She added that Kazakhstan has been a leader in digital asset developments for nearly a decade, adding,
“Kazakhstan has been a leader in digital asset development for nearly a decade, and today, together with our partners, we are exploring ways to transition the capital markets to blockchain and integrate Kazakhstan into the global capital ecosystem. The signing of the Memorandum with KASE is another step in development of our initiatives in the country, including projects in the field of tokenization of real assets and other digital financial instruments.”
Another major development includes the National Bank of Kazakhstan’s (NBK) foray into the crypto space, potentially investing $50-$300 million in crypto assets. The investment would be funded from the central bank’s gold and foreign exchange reserves, specifically from a separate portfolio that already includes high-tech stocks and digital asset-related financial instruments, rather than from the country’s National Fund.
