Kazakhstan to launch $350M national crypto reserve

The government of Kazakhstan is ready to begin acquiring cryptocurrencies and related stocks in a few weeks’ time, the country’s monetary authority unveiled.

Some $350 million has already been earmarked for that purpose, and the plan is to eventually double the funds devoted to building a national reserve of digital assets.

Central bank aims for April launch of Kazakhstan’s crypto reserve

Kazakhstan is preparing to make its first cryptocurrency investments in April and May, its monetary policy regulator announced through its management.

Up to $350 million from the country’s gold and foreign exchange reserves will form the initial portfolio, the Chairman of the National Bank of Kazakhstan (NBK), Timur Suleimenov, briefed the press.

Quoted by Total.kz, Informburo.kz, and other local news outlets on Friday, the governor explained:

“We see that major investment houses, many sovereign wealth funds, and even governments are beginning to invest in crypto assets. Therefore, we must not remain on the sidelines.”

Funds allocated to the state-controlled crypto reserve will ultimately reach $700 million, with the other half of the total coming from the National Fund of Kazakhstan, Suleimenov added.

The latter is a sovereign wealth fund created mainly by accumulating tax money collected from the oil, gas, and mining sectors. It’s managed by the NBK and is used both as a stabilization and a savings fund.

Suleimenov emphasized that, in addition to cryptocurrencies, the money will also be used to purchase shares of tech companies working with crypto and other digital financial assets.

“These are index funds and other instruments that exhibit similar dynamics to crypto assets,” the head of the central bank clarified.

His deputy, Aliya Moldabekova, pointed out that the authorities in Astana are now drafting a list of firms involved in the industry that may be of interest.

“We are currently in the process of selecting such companies, and I think we’ll report on that soon,” the NBK executive elaborated and confirmed:

“The first investments are tentatively scheduled for April-May of this year.”

Until then, the earmarked funds will remain invested in other money market instruments to continue to generate returns, she noted.

Kazakhstan chooses the right moment to enter the crypto market

The National Bank of Kazakhstan announced its decision to create a crypto reserve last fall. In November, the regulator said it will hold between $500 million and $1 billion worth of virtual and other assets.

At the time, cryptocurrency markets had recently reached their all-time highs, with Bitcoin surpassing $125,000 in early October. Following a major correction this year, the coin with the largest capitalization is now trading under $70,000.

Besides converting some of the country’s gold and forex reserves and other government savings, the fund will be topped up with digital coins confiscated by the state, the NBK’s management revealed.

The project to establish the “National Strategic Crypto Reserve” was initiated on the order of President Kassym-Jomart Tokayev as a mechanism allowing the Kazakh state to get directly involved in digital finance.

Earlier in February, Governor Suleimenov unveiled that financial authorities intend to also set up a government-run crypto custodial platform. He had previously commented that storing digital assets in wallets outside the country carries both technical and political risks.

Kazakhstan appeared on the global crypto map as a mining destination with growing importance when China cracked down on this and other coin-related activities a few years ago.

More recently, it took a series of steps to establish itself as a crypto hub in Central Asia and the wider Eurasian region, including the adoption of laws designed to liberalize the market.

In 2025, Kazakhstan’s parliament passed provisions permitting the establishment of crypto exchanges outside the narrow legal regime of the Astana International Financial Center (AIFC).

In November, Tokayev signed legislation lifting some restrictions on mining and expanding the legal circulation of cryptocurrencies in the country’s economy.

In January 2026, the president approved two bills regulating banking and financial operations that also relaxed rules cryptocurrency business.

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