National Bank of Kazakhstan to invest up to $300 mln in crypto assets

ASTANA. Nov 28 (Interfax) - The National Bank of Kazakhstan has established a dedicated crypto reserve within its gold and foreign exchange assets and is preparing to begin investments in digital financial instruments as early as 2025, National Bank Chairman Timur Suleimenov said.

The potential investment is estimated at up to $300 million.

"At the initial stage, the investments will come from our gold and foreign exchange assets, which we manage. We have an alternative portfolio that includes more progressive, higher-yield instruments. Within this portfolio, a separate structure has already been formed - a crypto reserve - where investments in high-tech equities and other instruments linked to digital financial assets will be concentrated. The amount is up to $300 million," Suleimenov said at a briefing on Friday.

He said the regulator would take a cautious approach and invest only when suitable market conditions and profitable assets are available.

"We are not rushing into any ill-considered decisions. We have created the legal and infrastructural framework that allows us to act when needed, but we will not take steps without thorough analysis. This does not mean we will immediately deploy the entire $300 million; we may limit ourselves to $50 million or $100 million, or possibly invest $250 million," he said.