Reading time: ~2 m
The Kazakh cryptocurrency exchange Intebix (Biteeu Eurasia) and the Eurasian Bank conducted the first joint transaction to buy bitcoin for fiat. This was reported to ForkLog by representatives of the trading platform.
The Bank independently developed the process of depositing and withdrawing tenge to the exchange with low commissions.
“This is the first crypto-fiat transaction between an exchange and a client bank on the Eurasian continent. It provides residents of Kazakhstan with access to the legal purchase of cryptocurrencies for tenge,” said Talgat Dosanov, director of Intebix.
The Eurasian Bank also announced plans to issue a crypto payment card by the end of the year, which will be accepted in stores. The operation itself will be carried out in tenge from the account associated with the client’s account on the Intebix exchange.
Now the financial institution is working with the National Bank on the potential risks of this project.
Recall that in June, a special working group, which included representatives of the Ministry of Digital Finance, the Central Bank and other regulators of Kazakhstan, approved pilot rules for conducting cryptocurrency operations on the basis of the Astana International Financial Center.
Licensed exchanges are eligible to participate in the initiative in cooperation with second tier banks.
The pilot will be implemented throughout 2022. If successful, the authorities will amend the legislation.
#bank #Kazakhstan #conducted #bitcoin #operation