Kazakhstan launches state-backed Alem Crypto Fund with initial BNB investment
Kazakhstan has launched Alem Crypto Fund, a state-backed vehicle for long-term digital asset reserves. While the fund is not a central bank reserve, it is supported by the government, highlighting a growing trend of exploring Bitcoin and other cryptocurrencies for national treasuries.
The fund was established by the Ministry of Artificial Intelligence and Digital Development and is managed by Qazaqstan Venture Group under the Astana International Financial Centre (AIFC).
“The main goal of the fund is to make long-term investments in digital assets and form strategic reserves,” the official announcement stated.
A leading mining hub following El Salvador’s path?
Kazakhstan, a nation of about 20 million people, has long been a key center for cryptocurrency mining. In 2021, it ranked second globally in Bitcoin hash rate. In 2024, President Kassym-Jomart Tokayev urged regulators to provide more transparent legal frameworks for digital assets after shutting down 36 unlicensed exchanges.
In May 2025, Kazakhstan unveiled plans for “CryptoCity,” a pilot zone allowing cryptocurrency payments. Earlier this month, Tokayev proposed creating a strategic crypto reserve and a full-fledged digital asset ecosystem, with legislation expected by 2026.
The first digital asset in Alem Crypto Fund’s portfolio is BNB, the utility token powering transactions, fees, and governance on the Binance blockchain. Although the announcement did not disclose the amount of BNB purchased at launch, nor which other cryptocurrencies might be included, the move reflects Kazakhstan’s long-standing cooperation with Binance.
As we wrote, Kazakhstan launches KZTE stablecoin with Solana and Mastercard
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