Jurisdiction reference
Kazakhstan
Regulator: AFSA (AIFC). License/registration context: Licensing. 209 VASP/entity records are tracked by Plexo Institute in Kazakhstan. Official registry source: AFSA AIFC Register. Data last updated: 2026-09-24.
Proposed Digital Assets Law expected passage in 2025; three-tier Digital Financial Asset (DFA) classification: stablecoins certifying money (fiat-backed), secured assets issued against collateral, digital financial instruments. The NBK regulates stablecoin issuance and digital infrastructure; ARDF sets requirements for other DFAs; Licensed Digital Platform Operators issue stablecoins; 1:1 backing required; digital tenge recognized as legal tender for payments; stablecoins permitted as loan collateral; financial organizations permitted investment in DFAs within standards; comprehensive regulatory framework on schedule for 2025 implementation. Meanwhile, within the AIFC, the Astana Financial Services Authority (AFSA) has a functioning Stablecoin Framework allowing fiat-backed issuance, and in June 2025 granted its first stablecoin license to AnchorX.KZ.
Regulatory Status
- Jurisdiction code
- KZ
- Regime
- Licensing
- Regulator
- AFSA (AIFC)
- Governing law
- AIFC Framework on Digital Assets 2022
- Travel Rule
- Legislated
- Tracked entities
- 209
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed, algorithmic
- Yield-bearing stablecoins
- Restricted
- Currency
- KZT
Licensed entities in Kazakhstan
Showing 100 of 209 regulated-entity records tracked in Kazakhstan by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| 4KZ | Registered | FinTech Lab Participant |
| 50 North Capital | Registered | Authorised Firm |
| Abylai Global Solutions | Registered | Authorised Firm |
| ACB Investment | Registered | Authorised Firm |
| Adal Integritas Capital Management | Registered | Authorised Firm |
| Adal Investments | Registered | Authorised Firm |
| Advanced Payment Solutions | Registered | Digital Asset Service Provider + Authorised Firm |
| Agraga | Registered | Authorised Firm |
| AIFC Branch | Registered | Authorised Firm |
| Ailat Finance | Provisional | Authorised Firm |
| AJR Finance | Provisional | Authorised Firm |
| Al Safi Bank | Registered | Authorised Firm |
| Al Saqr Islamic Bank | Registered | Authorised Firm |
| Al-Farabi Innovation Hub | Registered | Authorised Firm |
| Alawwal Partners | Registered | Authorised Firm |
| Alem Capital Management | Registered | Authorised Firm |
| Alem Entertainment | Registered | Authorised Firm |
| Alem.ai Impact | Provisional | Authorised Firm |
| Algoritm Capital | Registered | Authorised Firm |
| Alma Asm Invest | Provisional | Authorised Firm |
| Alpha State Management | Registered | Authorised Firm |
| Altherion Capital | Provisional | Authorised Firm |
| Altyn Bank | Registered | Authorised Firm |
| Aman Invest | Provisional | Authorised Firm |
| Amicorp Fund Services | Registered | Authorised Firm |
| Analytical Credit Rating Agency | Registered | Authorised Firm |
| AnchorX.KZ | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Apex Management GP | Registered | Authorised Firm |
| Apola Finance | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Aquila Management | Registered | Authorised Firm |
| AROOT Kazakhstan | Provisional | Digital Asset Service Provider + Authorised Firm |
| Arystan Wealth | Provisional | Authorised Firm |
| ASPAN Capital | Provisional | Authorised Firm |
| Aspan Prime Capital | Registered | Authorised Firm |
| Aspire Management | Registered | Authorised Firm |
| Asset Management Company One | Registered | Authorised Firm |
| Astana Hub Ventures | Provisional | Authorised Firm |
| Astana International Exchange Central Securities Depository | Registered | Authorised Firm |
| ATAIX Eurasia | Registered | Digital Asset Service Provider + Authorised Firm |
| Atlas Capital | Registered | Authorised Firm |
| Atrey Capital | Provisional | Authorised Firm |
| B-rocker | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Better Storm | Registered | Authorised Firm |
| BGlobal Ventures | Registered | Authorised Firm |
| Bigone Investment | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Bitfinex Securities | Registered | FinTech Lab Participant |
| Blackfort Capital | Registered | Authorised Firm |
| BN KZ Technologies | Registered | Digital Asset Service Provider + Authorised Firm |
| Bolashaq Investments | Registered | Authorised Firm |
| Branch of Bank CenterCredit JSC in the AIFC | Registered | Authorised Firm |
| Branch of ForteFinance JSC in the AIFC | Registered | Authorised Firm |
| Branch of Investment House Astana-Invest JSC in the AIFC | Registered | Authorised Firm |
| Branch of No.419900 of Halyk Bank JSC in the AIFC | Registered | Authorised Firm |
| Branch of SkyBridge Invest JSC in the AIFC | Registered | Authorised Firm |
| Branch of Unibank OJSC in the AIFC | Registered | Authorised Firm |
| Bridge Management | Registered | Authorised Firm |
| Brillink Bank Corporation | Registered | Authorised Firm |
| BTS Digital Ventures | Registered | Authorised Firm |
| byb capital | Registered | Authorised Firm |
| Bybit | Registered | Digital Asset Service Provider + Authorised Firm |
| CapitalLink | Provisional | FinTech Lab Participant |
| CardB Finance | Unknown | Authorised Firm |
| Carme Prime | Registered | Authorised Firm |
| CentaPay | Provisional | Authorised Firm |
| Central Asian Capital | Registered | Authorised Firm |
| Cepheus Pay | Registered | FinTech Lab Participant |
| China Construction Bank Corporation | Registered | Authorised Firm |
| China Development Bank Astana Representative Office Recognised Company | Registered | Authorised Firm |
| Clarus Capital Group | Registered | Authorised Firm |
| CodeCoin Tech | Provisional | Digital Asset Service Provider + FinTech Lab Participant |
| Collect & Exchange | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Collect & Pay | Registered | Authorised Firm |
| Commodity Chain | Provisional | FinTech Lab Participant |
| Concordia Group | Registered | FinTech Lab Participant |
| Credence Capital | Provisional | Authorised Firm |
| Cronex | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Crowdest | Registered | FinTech Lab Participant |
| Da Vinci Capital AIFC Representative Office | Registered | Authorised Firm |
| Damu Property Finance | Registered | Authorised Firm |
| Dasco Capital | Registered | Authorised Firm |
| deliryo | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Delta DA | Registered | Digital Asset Service Provider + FinTech Lab Participant |
| Digital Galaxy | Provisional | Digital Asset Service Provider + FinTech Lab Participant |
| EA Group Finance | Registered | Authorised Firm |
| Emerald Capital Partners | Registered | Authorised Firm |
| Enaqd | Registered | FinTech Lab Participant |
| ePlata Eurasia | Registered | FinTech Lab Participant |
| Esentai Asset Management | Registered | Authorised Firm |
| Etse | Registered | Authorised Firm |
| Eurasia Blockchain Fintech Group | Registered | FinTech Lab Participant |
| Eurasia Capital Asset Management | Registered | Authorised Firm |
| Eurasia Continental Financial | Registered | FinTech Lab Participant |
| Finclusion | Registered | FinTech Lab Participant |
| Finhub Global | Registered | Authorised Firm |
| Finnovate Limited Liability Partnership | Registered | FinTech Lab Participant |
| FinSight Ventures Asia | Registered | Authorised Firm |
| First Trust | Registered | Authorised Firm |
| Fonte Capital | Registered | Authorised Firm |
| Freedom Finance Global | Registered | Digital Asset Service Provider + Authorised Firm |
| Freegate Capital | Registered | Authorised Firm |
Browse all 209 records in the regulated-entity registry, including the remaining 109 in Kazakhstan.
Stablecoin laws in Kazakhstan
Primary legal texts Plexo Institute tracks for Kazakhstan.
- AFSA Stablecoin Framework (AIFC-only) (enacted 2024-01-01)
Framework for issuing fiat-backed stablecoins (single currencies only) within AIFC jurisdiction.
Regulatory events in Kazakhstan
Dated regulatory developments Plexo Institute tracks for Kazakhstan, most recent first.
- First AFSA Stablecoin Issuer License (2025-06-17 · Regulatory)
AnchorX.KZ received the first license for fiat-backed stablecoin issuance under AIFC/AFSA rules.
Central bank digital currency in Kazakhstan
Plexo Institute tracks 1 central bank digital currency programme in Kazakhstan.
- Digital Tenge — Status: Pilot · Central bank: National Bank of Kazakhstan · Model: Retail · Technology: Proprietary
Relationship Graph
Jurisdiction FAQ
Who regulates Kazakhstan?
The current Plexo Institute record lists AFSA (AIFC) as the regulator for Kazakhstan.
How many VASPs are tracked in Kazakhstan?
209 VASP/entity records are tracked by Plexo Institute in Kazakhstan.
What is the Travel Rule status in Kazakhstan?
The current Plexo Institute record lists the Travel Rule status for Kazakhstan as Legislated.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.