Kazakhstan’s National Bank signed a memorandum of understanding with Binance on September 4, paving the way for a Category 1 non-bank Payment Service Provider license application. This license would enable Binance to build infrastructure for converting digital assets to fiat currency and processing payments, while explicitly prohibiting deposit-taking or lending. The agreement is part of a coordinated government strategy including three MoUs signed the same day, with the Ministry of Artificial Intelligence and Digital Development and the Astana International Financial Centre. Discussions also covered the exploration of a Kazakhstan-issued stablecoin for cross-border transactions with CIS nations, a region with a combined population exceeding 240 million.
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