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Kazakhstan’s central bank plans to allocate $350 million from its gold and foreign exchange reserves into digital assets.
The central bank intends to invest in firms involved in crypto infrastructure, technology stocks, and funds associated with digital assets.
Kazakhstan serves as a prominent crypto hub in Central Asia. (Credit: Viktor Hesse on Unsplash/Modified by CoinDesk)
Key points:
- The central bank of Kazakhstan intends to allocate as much as $350 million from its gold and foreign exchange reserves towards assets associated with cryptocurrencies and digital assets.
- Officials indicate that the focus will be on equities of high-tech and cryptocurrency infrastructure companies, as well as crypto-related index funds, with investments planned for April and May.
- This proposed allocation is a minor portion of Kazakhstan’s total reserves of $69.4 billion.
Kazakhstan’s central bank announced its intention to allocate up to $350 million from its gold and foreign exchange reserves for investments in assets linked to cryptocurrencies and digital assets.
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The bank’s governor, Timur Suleimanov, indicated that the institution is formulating a list of permissible investments, which will go beyond direct cryptocurrency holdings, as reported by Reuters on Friday.
The nation emerged as a significant bitcoin mining center following China’s 2021 mining crackdown that drove operators to relocate. In 2025, Fonte Capital, located in Astana, launched Central Asia’s inaugural spot bitcoin ETF (BETF), which provides regulated, physically backed access to bitcoin.
The investment plan is expected to encompass equities of high-tech firms associated with digital assets, cryptocurrency infrastructure companies, and index funds that mirror crypto market performance.
Deputy central bank chair Aliya Moldabekova stated that investments are set to occur in April and May, underlining that the authorities are adopting a cautious strategy.
“We are not discussing any significant investment in cryptocurrencies,” Moldabekova remarked, as per Reuters. “We are in the process of selecting firms engaged in digital assets, such as those involved in cryptocurrency infrastructure.”
The proposed allocation constitutes only a small segment of the nation’s total reserves. As of February 1, the central bank reported $69.4 billion in gold and foreign exchange reserves, while the national fund, which collects oil revenues, held $65.23 billion in assets, according to central bank data.
