Kazakhstan plans to allocate part of its national reserves to digital assets

The Central Bank of Kazakhstan has announced a new financial strategy. According to reports from PANews, the government is considering shifting some of its state funds and foreign exchange reserves into digital assets. This policy was first mentioned by Verik Sholpankulov, Deputy Governor of the National Bank of Kazakhstan, during a response in the lower house of parliament.

Sholpankulov provided detailed explanations in response to questions from lawmakers about the reserve management strategy and the potential for the central bank to conduct digital currency trading. Of particular interest is the government’s move toward building a national-scale cryptocurrency reserve portfolio.

As a source of funding for reserves, seized criminal assets are expected to play a significant role. According to Sholpankulov, much of the confiscated assets will be allocated to this new fund and held as long-term strategic assets. This approach could serve as a new model for capital utilization through cryptocurrencies.

Furthermore, with an eye toward expanding digital asset investments, discussions are underway regarding the allocation of national funds, gold, and foreign exchange reserves. The hybrid strategy combining Kazakhstan’s currency and cryptocurrencies indicates an intention to diversify national assets and maximize profits. Attention is now on how and when this plan will be implemented.