The Kazakh bank, in partnership with Mastercard and the Astana-based cryptocurrency exchange, issued the country’s first crypto card.
A new payment method that will allow users to use accepted digital coins by Fiat Money is being tested as part of the soft launch.
Kazakhstan’s crypto card converts tethers to tena
Eurasia Bank, one of Kazakhstan’s commercial banking institutions, launched the first cryptocurrency card in a Central Asian country in pilot mode. The release was announced during the Astana Finance Days Forum, local media reported.
The card was developed alongside MasterCard and Crypto Exchange Intebix and with support from Kazakhstan National Bank (NBK), the business news portal Inbusiness.KZ said in a post Thursday.
At this point, a limited number of cards were issued to test the product under actual conditions. It is currently used to pay for products and services through MasterCard and Apple Pay terminals.
Crypto cards allow holders to purchase using tethers (USDT) and other stub coins. The transaction fee is only 1%, the website explains in detail.
Daily spending limits worth $1,000 are still in place, and cash withdrawals and transfers have not yet been unlocked.
All payments will be made in Kazakhstanitenge after conversion and will be made only in Kazakhstan jurisdiction. The client’s crypto assets are stored in a wallet hosted by Intebix.
The Crypto Card Project was first announced at the Digital Almaty 2025 forum in January. The latest announcement is the next phase of its development, covering testing of the technologies involved and interactions between participants.
Kazakhstan’s central bank gave Go-Amead for implementation in early June. It aims to provide domestic consumers with the option to make non-cash payments using Crypto Wallets from license providers registered with Astana International Financial Center (AIFC).
NBK Vice Chairman Berik Sholpankulov highlighted the possibility of future expansion of the project:
“This Crypto-Fiat solution provides opportunities for secure and convenient integration of the crypto industry into existing payment infrastructure.”
Building a bridge between crypto and fiat payments
Kazakhstan became a prominent name in the crypto sector when it attracted mining companies several years ago in the wake of China’s enforcement that banned Bitcoin-related activities.
Since then, authorities have taken a series of measures to regulate the growing crypto sector, including the adoption of tax rules and regulating cryptocurrency transactions.
To provide miners with the option to sell coins created in the country, the Kazakh government has allowed crypto exchanges, residents of the AIFC hub, to provide such services. As reported by Cryptopolitan in May, other platforms will also be licensed.
Speaking of the Crypto Card Initiative, Lyazzat Satieva, chairman of the board of directors of Eurasian Bank, commented.
“Cryptocurrency is no longer exotic for enthusiasts, but it is becoming part of a financial ecosystem with real products, regulations and infrastructure.”
“The bridge between the world of crypto and the everyday payments is being built here in Kazakhstan,” she said, “The banks came to crypto not for fashion, but for practical reasons such as customer demand and a clear economy.”
“The launch of Crypto Card Pilot along with Eurasian Bank and intebix shows how well it is familiar with payment solutions that combine digital assets with organically.
Emphasizing the support of payment providers to implement advanced financial technology in Kazakhstan, Zhamalov highlighted:
“Innovations like this will contribute to economic development and the expansion of the audience of modern financial products.”
“The launch of bank crypto cards is an important step in integrating digital assets into daily payments. We believe this product is in demand both in Kazakhstan and overseas.”