Kazakhstan Pilots Stablecoin Payments for Regulatory Fees

The Astana International Financial Centre (AIFC) launched a pilot project to accept regulatory fees in dollar-pegged stablecoins.

The Astana Financial Services Authority (AFSA), operating under the AIFC, announced the launch of the pilot initiative, which allows regulatory fees to be paid in stablecoins tied to the U.S. dollar.

Under the program, AFSA-licensed digital asset service providers (DASP) offering financial services and operating digital asset trading platforms can join the initiative as providers. Their role is to process payments in stablecoins on behalf of payers and subsequently transfer the equivalent amount in national currency to AFSA’s account.

Participation is only possible upon signing a multilateral memorandum with AFSA and meeting established requirements. The list of providers will be published on the agency’s official website. The first participant in the project is crypto exchange Bybit.

Bybit’s COO Mazurka Zeng highlighted the role of the initiative in expanding Kazakhstan’s payment ecosystem and emphasized the importance of the exchange’s participation. “With compliant, secure, and frictionless solutions built for digital assets, Bybit and AFSA share the vision of empowering entrepreneurs, consumers, and businesses to capture borderless opportunities in the stablecoin-powered payment revolution,” she stated.

Evgenia Bogdanova, CEO of AFSA, noted that this is the first regulatory project in the region enabling the use of stablecoins for fee payments. According to her, the initiative reflects Kazakhstan’s ambition to strengthen AIFC’s position as a hub for digital finance and innovation in line with global stablecoin trends.

The press release highlights that the AIFC special economic zone hosts more than 4,000 companies from 80 countries, providing banking, investment, insurance, and professional services. In terms of financial instruments, the centre is comparable to major global hubs such as London, Hong Kong, Singapore, and Dubai.

In April 2025, Kazakhstan began developing comprehensive regulation for the digital assets sector. A month later, a package of legislative measures was announced, aimed at building a full-fledged digital asset ecosystem and strengthening oversight of crypto circulation.

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