Hassan Maishera
Cryptocurrencies have gone mainstream, with countries and companies now keeping Bitcoin and other digital assets in their balance sheets. Strategy remains the company with the largest crypto reserve, roughly 640,000 bitcoins.
While El Salvador was the first country to make Bitcoin a legal tender, several countries now also have a crypto reserve. The United States, Singapore, the UAE, and Japan are some of the countries that are currently in talks to establish a crypto reserve.
Kazakhstan Launches its First Crypto Reserve
Kazakhstan is joining these countries with the launch of the Alem Crypto Fund. Established by the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan, the Alem Crypto Fund has started operating in Kazakhstan.
The fund is managed by Qazaqstan Venture Group and registered within the ecosystem of the Astana International Financial Centre (AIFC).
According to the team, the fund is designed to ensure long-term investments in digital assets and to build strategic reserves. In the future, the fund will also serve as a vehicle for state-level savings, expanding the country’s capabilities in managing the finances of tomorrow.
While commenting on this latest launch, Zhaslan Madiyev, Deputy Prime Minister – Minister of Artificial Intelligence and Digital Development of the Republic of Kazakhstan, said,
“The creation of the Alem Crypto Fund is a step toward advancing digital finance in Kazakhstan. Our goal is to make it a reliable instrument for major investors and a key foundation for digital state reserves.”
Alem Crypto Fund Invests in BNB
Binance Kazakhstan is the strategic partner of this fund. The partnership saw Alem Crypto Fund make its first investment by acquiring BNB - the native token of the BNB Chain. BNB is currently the fifth-largest cryptocurrency by market cap and is used for processing transactions, paying fees, and participating in network governance.
Nurkhat Kushimov, General Manager of Binance Kazakhstan, pointed out that they are proud to become the strategic partner of the Alem Crypto Fund.
“The fund’s choice of BNB as its first digital asset highlights the trust in the Binance ecosystem and marks a new chapter for institutional recognition of cryptocurrencies in Kazakhstan. This is an important step toward building a transparent and secure digital asset market, where government initiatives and global technologies work together for the benefit of the national economy,” Kushimov added.
Binance is currently the world’s leading cryptocurrency exchange, processing over $20 billion in trading volume. The exchange offers a wide range of financial products, including trading and finance, education, data and research, philanthropy, investment and incubation, decentralization, and more.
Its local arm, Binance Kazakhstan, is authorized by the financial regulator of the Astana International Financial Centre (AIFC) and the Astana Financial Services Authority (AFSA).
