Kazakhstan Launches National Digital Asset Fund to Bolster Crypto Reserve
Kazakhstan has announced the creation of a State Digital Asset Fund designed to establish a strategic cryptocurrency reserve and accelerate the modernization of the country’s financial system. President Kassym-Jomart Tokayev unveiled the plan during his annual state address on September 9, underlining the government’s ambition to position the Central Asian nation as a leader in the global digital economy.
The initiative is part of a broader effort to diversify Kazakhstan’s financial infrastructure and reduce reliance on traditional commodity exports, particularly oil and gas. Officials confirmed that new banking and digital finance legislation is in the works and is expected to be finalized by the end of 2025, paving the way for the fund’s full rollout by 2026.
Building a national crypto reserve
According to Tokayev, the State Digital Asset Fund will be managed at the national level, with oversight mechanisms to ensure transparency and efficiency. The fund aims to accumulate and manage a portfolio of digital assets, effectively creating a sovereign crypto reserve alongside existing financial holdings. While the government has yet to disclose details about the initial funding size or specific cryptocurrencies to be included, the announcement highlights a growing recognition of digital assets as a strategic resource.
The fund is expected to play a role in stabilizing the national economy, offering an alternative to traditional reserves held in foreign currencies or commodities. Observers suggest that it may also provide Kazakhstan with greater resilience against external financial shocks, while positioning the country to benefit from the growth of blockchain-based technologies and decentralized finance.
Regulatory and ecosystem development
Tokayev emphasized that the fund would not exist in isolation, but rather as part of a comprehensive modernization of the National Fund. A new law on digital assets and banking regulation is being drafted, with completion targeted for late 2025. This legislation is expected to establish clear standards for oversight, investment practices, and integration of cryptocurrencies into Kazakhstan’s broader economic strategy.
The Astana International Financial Centre (AIFC) and its regulatory body, the Astana Financial Services Authority (AFSA), are expected to play a central role in overviewing the fund. Both institutions have already been actively involved in developing regulatory sandboxes and pilot projects for digital asset companies, building an ecosystem that the new fund will likely leverage.
The establishment of a state-backed digital asset reserve positions Kazakhstan among a growing number of countries exploring ways to integrate cryptocurrencies into their financial architecture. Analysts note that such reserves could serve as a hedge against volatility in global commo
