Kazakhstan Begins Pilot Using USD-pegged Stablecoin Payments for Regulatory Fees

Kazakhstan has taken a bold step in digital finance by allowing companies to pay regulatory fees using USD-pegged stablecoins instead of relying solely on traditional bank transfers. The move was announced by the Astana Financial Services Authority (AFSA) during Astana Finance Days 2025, in partnership with centralized crypto exchange Bybit.

AFSA confirmed the launch of a pilot project that enables members of the Astana International Financial Centre (AIFC) to settle license and supervision fees in leading stablecoins such as Tether (USDT) and USD Coin (USDC). AFSA CEO Evgeniya Bogdanova called the initiative the first of its kind in the region, positioning Kazakhstan as a frontrunner in digital asset regulation and payments.

Until now, companies operating in Kazakhstan had to pay fees in US dollars or the local tenge via wire transfers, which often led to delays, high costs, and limited flexibility. Bybit highlighted that stablecoin payments provide faster, cheaper, and more transparent alternatives, especially for firms already holding digital assets in their treasury.

Participation in the pilot requires signing a multilateral memorandum of understanding (MMoU) and meeting AFSA’s eligibility standards. Bybit became the first official signatory, with CEO Mazurka Zeng finalizing the agreement alongside AFSA leadership. Other eligible providers will be announced on the regulator’s website.

Industry voices have praised the development. Jesse Knutson, head of operations at Bitfinex Securities, said the project shows how vital stablecoins like USDT are for building tokenized financial markets. Kazakhstan has already been at the forefront of crypto adoption, with the recent launch of Central Asia’s first spot Bitcoin ETF and discussions of a state-run crypto reserve funded by mined or seized assets.

With this move, Kazakhstan cements itself as a key hub in the global shift toward stablecoin-powered finance.