Alatau City plans to build a digital financial infrastructure that will enable business and investors to use new instruments for raising capital, investing and making settlements. One of its key elements is Alatau Token Exchange by KASE — a dedicated venue for issuing and trading tokenised assets. The corresponding areas of cooperation have been set out in a memorandum between Alatau City Authority and the Kazakhstan Stock Exchange (KASE).
One of the key areas of cooperation will be work on Alatau Token Exchange by KASE. The venue is expected to provide the infrastructure for issuing, circulating and organising trading in tokenised assets. Alatau City thus plans to build a complete digital investment loop — from the tokenisation of a real-world asset and the issue of the corresponding digital financial instrument through to its circulation and settlement.
The new infrastructure is intended to connect the real assets and projects of Alatau City with digital financial instruments. In time, tokenisation may be applied in the city's investment, infrastructure, logistics and other projects, making it possible to convert rights to real-world assets, or the financial instruments linked to them, into digital form within the applicable legislation.
For business this may create additional ways of raising finance for projects in Alatau City, and for investors it may widen access to new types of financial instruments through institutionally organised infrastructure.
Another area of cooperation between Alatau City Authority and KASE is work on digital financial assets for Alatau City projects and on a multi-currency range of stablecoins backed by the national and foreign currencies. In time, such instruments may be used for settlements involving digital financial assets within the city's ecosystem, including in projects with international participation.
Cooperation with KASE will make it possible to draw on the expertise and infrastructure capabilities of Kazakhstan's existing organised financial market in building the new digital financial ecosystem of Alatau City. In time, this model may broaden the options for financing urban infrastructure and investment projects, simplify engagement with international investors and technology partners, and create new financial instruments for the city's residents.
“Tokenisation can fundamentally change the approach to financing urban projects. Real assets, from infrastructure to commercial properties, will be able to take digital form and become more accessible for investment. The partnership with KASE allows us to work through this model on the infrastructure of Kazakhstan's organised financial market,” said Alisher Abdykadyrov, Chief Executive Officer of the Alatau City Authority special management organisation.
The memorandum between Alatau City Authority and KASE is a framework document and records the parties' interest in jointly working through the areas set out above. Specific projects, financial instruments, and the terms and mechanisms for delivering them will be determined at subsequent stages in accordance with the legislation of the Republic of Kazakhstan.
“The digital asset market requires flexible yet reliable infrastructure solutions. As part of this cooperation we plan not only to work through the concept of tokenising and trading assets on our platform, but also to take part in creating an effective settlement mechanism — stablecoins backed by fiat currencies. Our main task is to give market participants a high-tech platform for working with digital financial assets while observing all legal requirements and regulatory controls,” said Adil Mukhamedzhanov, Chairman of the Management Board of KASE.
The financial instruments will be delivered in cooperation with the National Bank of the Republic of Kazakhstan as the financial market regulator, in line with the established requirements and principles of transparency.
Cooperation with KASE will become part of the emerging digital financial ecosystem of Alatau City, bringing together real assets, investment projects and modern financial instruments. Developing such infrastructure will broaden the opportunities to attract Kazakhstani and international capital and create new mechanisms for financing projects in the real economy.
