Tether and Kazakhstan Partner on Tenge Stablecoin and RWA Pilot

Tether said it has signed a memorandum of understanding with the National Bank of Kazakhstan and the Alatau City Authority to explore a tenge-backed stablecoin and a real-world asset tokenization pilot.

The company described the agreement as an exploratory step rather than a launch. According to Tether, the parties will study stablecoin issuance models, identify potential use cases, and develop a proposal for a pilot tied to the Kazakhstani tenge.

Alatau pilot would use Tether’s Hadron platform

Tether also said the agreement includes work on an asset tokenization framework and a pilot project in Alatau. That pilot could use Tether’s Hadron platform, which the company positions for asset issuance and management.

The announcement does not indicate that a tenge-backed stablecoin is already live or that tokenized assets have been issued under the arrangement. Instead, it points to a planning phase that may lead to a pilot if the parties move ahead.

The disclosure adds Kazakhstan to Tether’s growing list of jurisdictions where the company is testing stablecoin and tokenization use cases with public-sector counterparts. In this case, the focus is narrow: study the mechanics, define the framework and see whether a pilot can be built around the tenge and asset tokenization in Alatau.