Kazakhstan launches Evo stablecoin with Solana and Mastercard

The new Solana-based Evo stablecoin pegged to Kazakhstan’s national currency, the tenge, aims to bridge the crypto market with traditional finance.

Kazakhstan’s central bank is launching a pilot project to issue a new stablecoin pegged to the local fiat currency in collaboration with Solana and Mastercard.

The National Bank of Kazakhstan announced the launch of a stablecoin project within the framework of its Digital Assets Regulatory Sandbox, according to a statement shared with Cointelegraph on Tuesday.

The new Evo (KZTE) stablecoin is pegged to the Kazakhstani tenge currency and is issued by sandbox participant Intebix crypto exchange and local lender Eurasian Bank, with assistance from Solana and Mastercard.

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