MNBC: Kazakhstan could conduct tests on the BNB Chain

BNB Chain approaches the Central Bank of Kazakhstan

In a series of tweets, Changpeng Zhao (CZ), the founder and CEO of Binance, unveiled the latest progress of the BNB Chain in its relations with Kazakhstan :

Quick story about the #binance team slowly pushing crypto adoption globally.

2 weeks ago Binance got a license in Kazakhstan. But we didn’t stop there. (1/4)

— CZ 🔶 Binance (@cz_binance) October 26, 2022

Thus, we learn that the country’s Central Bank is conducting tests for a digital version of the tenge, and that the BNB Chain could take part in these experiments :

“Since then, our team has met with the First Deputy Governor of the National Bank of Kazakhstan (NKB), Berik Sholpankulov, and the Head of the Payments and Technology Center, Binur Zhalenov. We introduced them to the BNB Chain community to discuss testing incorporating their MNBC (the digital tenge) […]. »

If these discussions bear fruit, BNB Chain will therefore join this pilot program.

👉 To go further – Find our guide on central bank digital currencies (MNBC)

One more license for the Binance platform

This news comes as earlier this month, Binance has obtained a license in Kazakhstan in order to operate as a digital asset service provider.

Gleb Kostarev, the regional manager for Asia had shown up satisfied with the position of the government with respect to cryptocurrencies:

“We welcome Kazakhstan’s desire to become a leading player in the field of new digital technologies and the cryptocurrency ecosystem. The government has made significant changes to the relevant legislation and regulatory environment, thereby setting the highest compliance standards for cryptocurrency platforms. »

Binance continues its global compliance process, but the possibility of become a major player for an MNBC through its blockchain is even more striking. Indeed, although it would be totally unprecedented and would be a strong signal for the ecosystem, it would also raise questions about the sovereignty of the country.

Nevertheless, nothing is done yet and we do not know to what extent this partnership between BNB Chain and Kazakhstan could take place. Nevertheless, this testifies to Binance’s desire to establish itself as a long-term a leading actor.

👉 Also in the news – Binance launches its own oracle network and competes directly with Chainlink (LINK)

Join Experts and a Premium Community

PRO

Invest in your crypto knowledge for the next bullrun

Source: Binance

I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.

Vincent Mayor

346 items