Kazakhstan to Launch CBDC on BNB Chain
1The BNB Chain will play a significant role in Kazakhstan's most recent Web3 initiative, according to a statement made on Twitter by Changpeng Zhao, the founder and CEO of Binance. The founder of Binance tweeted that the National Bank of Kazakhstan (NBK) will incorporate its digital tenge, a central bank digital currency (CBDC), on the BNB Chain, the network's underlying blockchain. Local retailers and customers took part in a CBDC pilot programme that was started by the NBK. The move, according to Binance founder and CEO Changpeng Zhao, is an effort by the bank to "cross the gap between traditional banking and the crypto ecosystem." In an effort to aid in the battle against financial crime, Binance also signed a memorandum of understanding with regional authorities around this time.
Among its most recent initiatives in the cryptocurrency sector is Kazakhstan's CBDC pilot programme. On September 28, Kazakhstan's President Kassym-Jomart Tokayev declared that the country is getting closer to legislating ways to convert cryptocurrencies into cash and to giving them full legal recognition.
Source: https://cointelegraph.com/news/kazakhstan-to-build-central-bank-digital-currency-on-bnb-chain
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