PANews reported on September 23rd that, according to Cointelegraph, the Central Bank of Kazakhstan is partnering with Solana and Mastercard to launch a pilot project to issue a new stablecoin pegged to the local fiat currency, the Kazakhstani tenge. According to a statement, the National Bank of Kazakhstan is launching this project within its digital asset regulatory sandbox. The new Evo (KZTE) stablecoin is being issued by sandbox participants Intebix and Eurasian Bank with the assistance of the two companies. The founder of Intebix stated that KZTE, based on the Solana blockchain, has been launched within the Central Bank's regulatory sandbox, and Mastercard plans to connect it with global stablecoin issuers.

Kazakhstan's newly launched Evo stablecoin, described as a "national stablecoin," aims to bridge cryptocurrency innovation with traditional finance. Use cases include expanding crypto-to-fiat channels, enabling exchanges, and supporting crypto-to-card transactions. The project is part of the National Bank's strategy to build a digital asset ecosystem. While issued by Intebix and Eurasian Bank Technologies, the central bank participates in the project through regulatory oversight.