Kazakhstan Launches Evo Stablecoin with Solana and Mastercard

Key Insights

• Kazakhstan launches Evo (KZTE) stablecoin, pegged to the tenge.

• It is built on Solana, with support from Mastercard and Intebix.

• Part of the national push is to connect crypto and traditional finance.

Kazakhstan has officially launched a Solana-based stablecoin called Evo (KZTE), pegged to the national currency, the Kazakhstani tenge. The plan is part of a pilot program led by the country’s central bank, developed under its Digital Assets Regulatory Sandbox and supported by Mastercard and Solana.

The KZTE stablecoin was issued by the local crypto exchange Intebix in collaboration with Eurasian Bank, one of Kazakhstan’s leading financial institutions. 

According to Intebix founder Talgat Dossanov, the project aims to link blockchain-powered financial tools with traditional banking services and make stablecoin use more accessible both locally and globally.

The new stablecoin is already live within the sandbox environment and is positioned as a national tool to drive forward Kazakhstan’s digital asset policy. 

Mastercard, meanwhile, will help connect Evo with global stablecoin infrastructure, creating a bridge between local fintech solutions and international payment networks.

Stablecoin Designed To Link Crypto And Traditional Finance

Kazakhstan’s Evo stablecoin is being pitched as more than a localized payment token. Officials describe KZTE as a “national stablecoin” that will play a foundational role in expanding the country’s crypto-fiat ecosystem. 

It is designed to enable smoother exchange between cryptocurrencies and tenge, facilitate crypto card payments, and support broader transaction use cases for both individuals and businesses.

The partnership with Solana is notable, given the blockchain’s speed, scalability, and growing role in institutional-grade digital finance solutions. 

Building Evo on Solana will allow the project to benefit from near-instant finality and low transaction fees, features that are critical for real-world financial applications.

“The project is part of the National Bank’s strategy to build a national digital asset ecosystem,” the central bank stated, highlighting its broader aim to foster innovation in the local digital economy.

Kazakhstan's Expanding Digital Asset Ambitions

The launch of Evo comes as Kazakhstan accelerates its broader push into the digital asset space. Beyond KZTE, the country is also exploring the creation of a state-managed crypto reserve, as well as crafting comprehensive crypto regulations to position itself as a regional leader in digital finance.

With regulatory clarity, institutional partnerships, and a blockchain foundation that includes major names like Mastercard and Solana, Kazakhstan appears committed to turning its stablecoin project into a model for public-private innovation in Web3 finance.