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Kazakhstan aims to investigate the potential for incorporating blockchain technologies into the dual listing framework for securities within its stock market, with assistance from Intebix, the Solana Foundation, and Jupiter.
The Astana International Exchange (AIX), which serves as Kazakhstan’s stock exchange, has entered into a Memorandum of Understanding (MoU) with the regulated cryptocurrency exchange Intebix, the decentralized exchange Jupiter, and the Solana Foundation.
The involved parties have agreed to collaboratively develop a dual listing framework for initial public offerings (IPOs), allowing for the simultaneous listing of securities on a conventional exchange and in tokenized format on the Solana blockchain. Assel Mukazhanova, Chair of AIX, stated that this partnership will facilitate the exploration of opportunities for integrating digital assets into Kazakhstan’s regulated financial system.
The primary goals of this collaboration include:
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- evaluating the legal and technical viability of tokenized listings;
- enhancing the transparency and efficiency of the stock market through blockchain technologies;
- broadening access to investment opportunities via digital solutions.
In this initiative, Intebix will serve as a connector between AIX and the Web3 sector. The Solana Foundation and Jupiter will contribute technological knowledge regarding tokenization and decentralized trading.
AIX representatives highlight that the MoU does not obligate the parties to an immediate implementation of solutions but rather acts as a foundation for collaborative analysis, testing, and potential application of the technology within the existing legal framework. Talgat Dossanov, CEO of Intebix, remarked that this partnership represents a strategic move that could reshape both Kazakhstan’s financial environment and global markets. Akshay BD, nCMO of the Solana Foundation, mentioned that collaborating with AIX will aid in establishing a regulatory framework that supports a new generation of IPOs in line with contemporary capital market dynamics aiming for an online transition.
Recently, the President of Kazakhstan announced plans for the imminent establishment of a special pilot zone for the utilization of cryptocurrency in the real economy sector.
Сообщение Kazakhstan to Explore Blockchain Implementation in Stock Market появились сначала на CoinsPaid Media.
