Digital Tenge
A new official form of the national currency
The Digital Tenge is a liability of the NBK, issued in electronic form and distributed jointly with market participants within the framework of two-tier financial architecture. Within the pilot project, basic scenarios of the Digital Tenge's lifecycle were implemented including emission, distribution, purchases and transfers. A new payment solution for offline settlements is also planned.
The Digital Tenge will be universally accepted as a legal tender and fulfill all the functions of classical money for all economic entities.
Benefits of the New Currency
Innovation
The DT promotes new technology thus facilitating access to financial services and creating new opportunities for entrepreneurship and business.
Availability
The DT can make financial services accessible to a broad population segment including remote and hard-to reach regions.
Efficiency
Accelerating and facilitating settlement through the DT can reduce costs and increase the speed of financial transactions.
Security
The DT provides high transaction security by using modern cryptographic technologies, provides high for entrepreneurship and business.
Digital Advantages
FAQ
The wallet is opened within one business day after the application is submitted.
A marked account allows digital tenge to be assigned specific spending conditions. In other words, rules can be set to determine when and how the marked digital tenge may or may not be used
You send digital tenge to the public wallet address of your counterparty. The payment is processed instantly and recorded in the system.
The National Bank of the Republic of Kazakhstan is developing the National Payment System to ensure that all market participants have access to affordable, fast, convenient, and secure payment services.
1 digital tenge = 1 tenge in cash or non-cash form.
Conversion of digital tenge will be available directly on the platform.
The traceability of marked funds and compliance with security standards can facilitate monitoring and help prevent fraudulent activities. Digital tenge is not a replacement, but an additional tool within broader anti-corruption measures.
Digital tenge is designed not to replace cash or non-cash money, but to complement existing forms of money.
The key difference between digital tenge and cryptocurrencies is the presence of an official issuer — the National Bank of the Republic of Kazakhstan.
Digital tenge therefore has a legal status and represents a liability of the National Bank.
He wallet details are represented by a cryptographic public address, which is generated automatically after the wallet is activated.
More detailed information will be available in internet banking.
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