Kazakhstan to Deploy $700 Million From Reserves Into Digital Asset Infrastructure

Kazakhstan plans to allocate up to $700 million to digital asset markets through its National Bank and state financial sources, splitting $350 million from gold and foreign exchange reserves and $350 million from government assets, officials said. The central bank targets an April or May launch and will focus investments on crypto infrastructure firms, blockchain technology companies, and digital asset-linked funds rather than direct cryptocurrency purchases. Authorities characterize the move as a modest diversification against Kazakhstan's $69.4 billion in gold and FX reserves and the National Fund's $65.23 billion in assets, designed to safeguard national reserves while expanding the country's digital asset strategy, which includes a state crypto reserve from seized assets and mining revenue, and development of the tenge-backed Evo (KZTE) stablecoin on Solana alongside its digital tenge CBDC work.