Binance to launch first-category payment organisation in Kazakhstan

September 11, 2026 at 02:10 PM1 min

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Binance plans to establish a first-category payment organisation in Kazakhstan to serve CIS and Eastern European markets. National Bank Deputy Chairman Binur Zhalenov announced the plan at the Central Asia FinTech Summit, with licensing to begin October 21. The new licence will allow non-bank payment organisations to issue cards and serve corporate clients.

Key Facts

Binance signed a memorandum with the National Bank of Kazakhstan last week to create a first-category payment organisation.
The new licence category will allow payment organisations to issue payment cards and serve corporate clients without a bank.
Licensing for first-category payment organisations is scheduled to begin on October 21.
13 organisations have expressed interest in the new licence, including global fintech companies and telecom operators.
Binance's Kazakhstan entity will serve the CIS and Eastern Europe, with operations managed from Kazakhstan.

New Licence Category

Payment organisations have operated in Kazakhstan for about ten years, but their capabilities have been limited. The first-category licence will allow them to issue payment cards independently and serve legal entities. They will also be able to conduct cross-border settlements and offer new payment services. Deputy Chairman Binur Zhalenov said the expanded functionality is intended to increase competition for entrepreneurs.

Binance's Kazakhstan Plans

Binance signed a memorandum with the National Bank last week to establish a first-category payment organisation in Kazakhstan. The entity will serve not only the Kazakh market but also the CIS and Eastern Europe, with all operations managed from Kazakhstan. Binance founder Changpeng Zhao previously visited Astana, where he was introduced to the Alem.ai International Artificial Intelligence Centre. In 2022, Binance announced plans to create a regional hub in Kazakhstan.