Central Asian country Kazakhstan will continue to study national digital currencies (CBDCs) until at least 2025.
In December 2021, the country said it was testing CBDCs on R3's Corda platform and would make a decision on whether to release a CBDC later this year. By October 2022, Binance CZ CEO announced that Kazakhstan is coordinating e-tenge testing on BNB Chain.
Kazakhstan's central bank said it had completed several phases of testing, including refining the prototype and issuing a limited amount. Over the next two years, the country will develop solutions to bring CBDCs into industrial operations and partner with other central banks for cross-border money exchanges.
In addition, Kazakhstan is working with Binance on blockchain technology education. The largest exchange on the planet will partner with the bank's "Blockchain Center" research lab, to launch an educational program for 40,000 people and bring into higher education across the country, according to a dec. 20 statement.
Currently, there are many countries in the world that are exploring CBDCs in many ways, some of them claiming it will take up to 10 years to issue a CBDC. According to the Atlantic Council, as many as 105 countries are exploring CBDCs, accounting for 95% of global GDP. Nigeria, the Bahamas, Jamaica and the Eastern Caribbean are the countries that have introduced CBDCs. Meanwhile, Brazil, Russia and Mexico plan to launch CBDCs in the next two years.