The National Bank of Kazakhstan plans to invest up to $300 million in cryptocurrencies.
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TL;DR
The National Bank of Kazakhstan plans to invest up to $300 million in cryptocurrencies, with the final amount undetermined and potentially ranging from $50 million to $250 million. This follows the establishment of a national cryptocurrency reserve fund.
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National Bank of Kazakhstancryptocurrency investmentreserve fundTimur Suleimenov
On November 30, Timur Suleimenov, chairman of the National Bank of Kazakhstan (NBK), said that the bank is prepared to invest up to $300 million in cryptocurrencies, but the final amount has not yet been determined and may be in the range of $50 million to $250 million.
As previously reported, on November 7, Kazakhstan was establishing a national cryptocurrency reserve fund, with an expected size of $500 million to $1 billion, partly funded by assets seized and repatriated from overseas.