After Russia and Australia, now it is time for Kazakhstan to propose the launch of its own government backed cryptocurrency. The country’s government body voiced support in favour of Astana International Finance Center (AIFC) and said that it had signed a deal of cooperation on Tuesday along with a Maltese firm known as Exante.
During a recent press release, Exante which has conferred upon itself the title of being a “next generation investment company,” expressed its desire to work alongside AIFC for developing the untapped cryptocurrency market of the ex-Soviet nation.
Kairat Kelimbetov, the governor of the Astana International Finance Center said, “Blockchain and cryptocurrencies are entering the mainstream of today’s economic reality,” during the press release.
He also added, “Astana’s leading financial regulators have already commenced their work and are laying the foundation for Kazakhstan’s fintech-ecosystem. We believe that the AIFC can become an international hub for blockchain operations and the development of the digital assets market is our key priority in the near future.”
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In August Estonia proposed the launch of it’s own cryptocurrency “Estcoin”, a state-backed digital asset. This small Eastern European nation holds the view of launching Estcoin through an ICO or initial coin offering which refers to a crowdfunding method which has come under the scrutiny radar off late. Just last month, the Japanese officials announced the launch of its own digital currency which they have named as J-Coin. Kazakhstan’s entry inside the digital currency array is supported by Stasis, the Blockchain platform of Exante. Blockchains refer to digital ledgers which maintain a record of cryptocurrency transactions across a distributed computer network.
Anatoly Knyazev ,the co-founder of Exante recently stated that:
“The development of such a system will bridge the gap between the traditional asset market and the crypto-world. We see keen interest from the market players, and we already have applications from other government-related financial institutions.”
Exante did not indicate any launch date for the technology which is presently being experimented in a “closed mode.”
Also Read: Dubai to launch it’s own Cryptocurrency called EmCash
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