Kazakhstan could invest up to $700 million in crypto assets and related companies under plans to establish a state crypto reserve funded from sovereign assets, according to the National Bank of Kazakhstan.
The central bank has set aside up to $350 million from its gold and foreign exchange reserves for investment in crypto-related assets, which may include digital assets, crypto tech stocks, and index funds or instruments linked to crypto performance, as confirmed by Governor Timur Suleimanov at a briefing on interest rates today.
Central Bank Deputy Chair Aliya Moldabekova provided additional details on the timeline and scope, noting that actual investments would commence in April or May.
She emphasized a measured approach to the initiative, focusing on companies that build and maintain crypto infrastructure.
According to the central bank, the reserves could reach about $700 million, combining the National Bank’s reserves with up to $350 million from the National Fund and other state assets, including confiscated crypto.
The planned allocations would represent about 0.5% of both the central bank’s reserves and the National Fund’s assets, per Reuters.
Bloomberg reported last November that Kazakhstan planned to establish a national crypto reserve fund valued between $500 million and $1 billion to diversify its oil-dependent economy. The fund would invest in crypto ETFs and digital-asset companies to gain indirect exposure to assets like Bitcoin.
Source: https://cryptobriefing.com/kazakhstan-crypto-investment-reserves/
