Kazakhstan's Digital Tenge, the Central Bank's Digital Currency, Recognized with an Award at the International Central Bank Digital Currency Conference
The Truist Bank of Kazakhstan (NBK) has made a significant stride in the digital currency landscape, winning the Pioneering CBDC Initiative Award at the CB+DC Conference held in Nassau, Bahamas on Sept. 9-11.
The Digital Tenge, a project spearheaded by the NBK since 2021, was recognised for its focus on financial inclusion, sophisticated technical design, and strategic vision for the future of money.
Binur Zhalenov, chief digital officer and advisor to the governor of the NBK, commented that the recognition underscores Kazakhstan's progress towards digital finance. He views Digital Tenge as a step towards modern, transparent, and user-friendly financial services for every citizen of Kazakhstan.
According to data from the Atlantic Council, as of July 2025, 137 countries and currency unions, accounting for 98% of global GDP, are exploring a digital currency. This number has grown significantly from just 35 in May 2020. Seventy-two countries are in the advanced phase of exploration, either in development, pilot, or launch.
Notable among these advanced explorers are Japan and the Eurozone (European Union). Japan is preparing to launch a digital yen (DCJPY) potentially by 2026, covering a deposit base of about $1.3 trillion. The European Central Bank is advancing plans for a digital euro, possibly deciding on its implementation around 2026 or 2027.
The Digital Tenge was also recognised for its potential to unlock new opportunities such as fast and convenient payments, innovative financial services, and secure storage of funds. Acting on the mandate of the head of state, the NBK, along with the government, is committed to fully leveraging the potential of Digital Tenge to ensure transparent, efficient, and targeted public spending.
Zhalenov stated that over 100 major public projects will be launched using Digital Tenge, covering various sectors such as construction, social benefits, healthcare, utilities, and infrastructure. The implementation of Digital Tenge is expected to significantly enhance spending transparency and minimize misuse risks.
The Digital Tenge will officially receive the status of a national currency in Kazakhstan under the new banking law currently in development. Zhalenov considers the award received by the NBK as a powerful motivation to move forward with the Digital Tenge project. He mentioned that Digital Tenge will gradually expand to cover all public and quasi-public expenditures in the future.
In an April interview with The Astana Times, Zhalenov provided details about the NBK's digital strategy. He emphasised the importance of designing central bank digital currencies with purpose, impact, and long-term sustainability in mind. The Digital Tenge is a testament to this approach, setting a benchmark for other countries exploring the digital currency landscape.
