2024-05-25 17:39:38
Kazakhstan is able to share its expertise with Azerbaijan in introducing digital forex
As Day.Az studies, Chairman of the Nationwide Cost Company of the Nationwide Financial institution of Kazakhstan Binur Zhalenov informed Development on Wednesday on the sidelines of the Fintech Summit, which is happening in Baku.
“On the digital manat, so far as I do know, no ultimate choice has been made but. However we’re at all times comfortable to share our expertise with colleagues. When the choice is made to introduce the digital manat, firstly, we shall be able to share our expertise, and secondly, it can make it simpler cross-border funds between our nations,” Zhalenov stated.
In accordance with him, the presence of digital currencies in every nation will contribute to lowering the price of transactions.
“If there’s a digital manat and a digital tenge, then the velocity and price of transactions between our nations will probably need to lower,” Zhalenov stated.
He additionally famous that regulators within the two nations are cooperating with one another.
“We at all times cooperate with nice pleasure with our colleagues from the Central Financial institution of Azerbaijan. It is a very superior regulator,” stated the chairman of the Nationwide Cost Company.
It ought to be famous that the digital tenge venture was beforehand launched to check the viability of the idea in 2021. Analysis continued in 2022, together with testing the platform with actual customers and companies.
On November 15, 2023, the primary stage of implementation of the digital tenge platform throughout the industrial circuit was launched. Along with the Akimat of the town of Almaty and JSC Kazpost, a pilot venture of “digital vouchers” without cost meals in colleges was launched. As well as, along with worldwide cost methods and 4 second-tier banks, the world’s first financial institution playing cards have been launched with a hyperlink to a digital account within the digital forex of the central financial institution, which allowed residents to spend, withdraw money and conduct transactions in digital forex wherever on the earth and inside acquainted consumer journey.
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