The National Bank of Kazakhstan and the Ministry of Finance plan to launch tokenized sovereign bonds in the first quarter of 2027. The initiative follows a pilot issuance of 10 billion tenge, worth roughly $21.5 million to $22 million, conducted on November 9, 2026 through the Kazakhstan Stock Exchange’s digital financial assets platform. Demand reached 1.4 times the available supply, at a weighted average yield of 15.72%. The platform is built on the Solana blockchain, while BitGo handles custody of the digital assets, although their roles in the upcoming government bond sale have not been confirmed. The size of the first issuance, potential access for foreign investors and secondary trading of the tokens remain unresolved.
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