Key Takeaways:
- Kazakhstan launched the Alem Crypto Fund with an initial BNB purchase, aiming to build long-term digital asset reserves.
- The fund is managed by Qazaqstan Venture Group under AIFC, with support from Binance, following ongoing government-crypto collaborations since 2022.
- This move aligns with Kazakhstan’s broader push for digital asset adoption, including its tenge-backed stablecoin and planned “CryptoCity” zone.
Kazakhstan has launched the Alem Crypto Fund, a state-backed initiative aimed at building long-term reserves of digital assets.
Managed by Qazaqstan Venture Group under the Astana International Financial Centre (AIFC), the fund was created by the Ministry of Artificial Intelligence and Digital Development.
TLDR: Kazakhstan 🇰🇿 buys #BNB
— CZ 🔶 BNB (@cz_binance) September 29, 2025
Kazakhstan "national" crypto reserve – Alem Crypto Fund – buys #BNB for long-term holding.
https://t.co/ZbLNbuLvpG
(Photo from 2022, new photo coming soon…) pic.twitter.com/2aoz33e328
Its first purchase is BNB, the utility token of Binance’s blockchain, in partnership with Binance Kazakhstan.
The size of the acquisition and details about future asset allocations were not disclosed.
Officials emphasized the fund’s purpose is to make strategic, long-term investments in crypto.
The launch follows Kazakhstan’s introduction of its tenge-backed stablecoin (KZTE) on Solana, developed with Mastercard, Intebix, and Eurasian Bank.
Kazakhstan has been an active player in the crypto space, ranking second globally in Bitcoin mining in 2021.
Under President Kassym-Jomart Tokayev, the country has tightened oversight, shutting down 36 unlicensed exchanges in 2024 and advancing plans for “CryptoCity”, a pilot zone for crypto payments.
Though not a central bank reserve, the Alem Crypto Fund highlights a growing global trend of governments adopting digital asset reserves, following examples set by El Salvador, Bhutan, Brazil, and Indonesia.
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