Evo TechFlow news, September 23: According to Cointelegraph, the National Bank of Kazakhstan announced the launch of a stablecoin pilot project within its digital asset regulatory sandbox framework. The newly launched Evo (KZTE) stablecoin, pegged to the Kazakhstani tenge, is issued by sandbox participants Intebix cryptocurrency exchange and local lender Eurasian Bank, with support from Solana and Mastercard.
Built on the Solana blockchain, the stablecoin has gone live within the central bank's regulatory sandbox. Mastercard will handle connections between KZTE and global stablecoin issuers. Intebix founder Talgat Dossanov said this marks the first time the central bank has taken an active role in stablecoin issuance.
KZTE is defined as a "national stablecoin" designed to bridge crypto innovation with traditional finance, with use cases including expanding crypto-fiat channels, supporting cryptocurrency trading, and enabling crypto card transactions.
