Solana Signs Deal with Kazakhstan to Boost Web3 and Tokenized Markets
Solana Foundation has taken a big step in expanding blockchain adoption in Central Asia by signing a Memorandum of Understanding (MoU)...
Quick overview
- The Solana Foundation has signed a Memorandum of Understanding with Kazakhstan's Ministry of Digital Development to promote blockchain adoption.
- The partnership aims to develop blockchain-based startups and establish Kazakhstan as a regional blockchain hub.
- A key focus is on tokenizing capital markets to modernize the Astana International Exchange, potentially anchoring 90% of its trading volume on Solana's blockchain.
- Kazakhstan has also launched the Solana Economic Zone, the first blockchain-based economic zone in Central Asia, to foster Web3 innovation.
Solana Foundation has taken a big step in expanding blockchain adoption in Central Asia by signing a Memorandum of Understanding (MoU) with Kazakhstan’s Ministry of Digital Development, Innovations, and Aerospace Industry. The agreement, signed by Solana Foundation President Lily Liu, will help develop blockchain-based startups in Kazakhstan and drive Web3 adoption.
The partnership will focus on building the local ecosystem through education and technical resources. By promoting Solana-based projects, it will turn Kazakhstan into a regional blockchain hub.
“We look for partners—people, companies, and countries—who share our vision for building next-gen financial infrastructure,” Liu said in a video shared by the Foundation.
Capital Market Tokenization at the Core
A key part of the partnership is tokenizing capital markets, specifically using Solana’s blockchain to modernize Kazakhstan’s Astana International Exchange (AIX). This will increase transparency, reduce transaction costs and make it more competitive globally.
Akshay BD, Chief Marketing Officer at the Solana Foundation, explained the long-term plan:
“Tokenizing AIX’s operations on Solana could eventually anchor up to 90% of trading volume on-chain, which will be on par with global leaders like NYSE and Nasdaq.”
By putting blockchain into capital markets, Kazakhstan is positioning itself to attract international investors and streamline domestic financial operations.
Solana Economic Zone Already Live
This MoU follows Kazakhstan’s launch of the Solana Economic Zone Kazakhstan (SEZ KZ) on May 30, the first blockchain-based economic zone in Central Asia. The zone is a sandbox for Web3 experimentation and real-world applications like asset tokenization and decentralized finance (DeFi).
Minister Zhaslan Madiyev called it a milestone in Kazakhstan’s digital journey:
“We are committed to building a resilient and competitive digital environment. Initiatives like SEZ KZ allow us to explore next-gen solutions.”
Highlights:
- MoU signed between Solana Foundation and Kazakhstan’s MDAI
- $SEZ KZ launched as Central Asia’s first blockchain economic zone
- Tokenized trading on Solana could cover 90% of AIX’s volume
- Educational programs and startup incubation planned
Kazakhstan is now a key player in global blockchain and Solana is the future of digital economies.
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