Kazakhstan to launch new digital coin | Inbusiness.kz

The first coins will be available for purchase early next year.

The National Bank of Kazakhstan reveals a new Digital Investment Coin project, Kazinform News Agency reports.

Addressing the XII Congress of Financiers of Kazakhstan National Bank chair Timur Suleimenov said coins can be bought and sold back to the bank, presented and exchanged for an equal value of physical gold investment coin at the district affiliates of the National Bank.

The first coins will be available for purchase early next year.

He stressed gold investment coins can be purchased and traded online at any time from around the world. The investment coin in digital equivalent will be priced in tenge according to its weight and gold price set by the LBMA and USD/KZT exchange rates set by the National Bank. It can be bought via the Tabys mobile application of the Astana International Exchange.

The new investment coin UKI of the Cult Animals are Totems of Nomads series with a nominal of 100 tenge is made of 999.9 fine gold and weighs 31.1 grams. The coins will be released in blister packs.

As earlier reported, the National Bank has been releasing collectors’ coins since 1995.