Kazakhstan launches first tenge stablecoin KZTg on Telegram

September 12, 2026 at 11:54 AM2 min

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Kazakhstan launched its first tenge-backed stablecoin, KZTg, on Telegram at the Central Asian Fintech Summit 2026 in Almaty. The token is pegged 1:1 to the tenge and operates within the National Bank's regulatory sandbox. The launch positions KZTg as the first non-dollar stablecoin on the TON network.

Key Facts

KZTg is pegged 1:1 to the tenge, with top-ups via bank card or transfer at a rate of 1 tenge = 1 KZTg.
The project operates in the National Bank of Kazakhstan's regulatory sandbox, with TOO 'Alt coin' as the operator.
KZTg is the first non-dollar stablecoin on the TON network and the first national-currency stablecoin in Telegram in Central Asia.
The Central Asian Fintech Summit 2026 in Almaty drew more than 4,000 participants from financial and technology markets.
Dollar stablecoins account for 99.76% of the global stablecoin market, leaving only 0.24% for all other currencies combined.

Launch and Positioning

The first mint of KZTg, also called TG Coin, took place at the Central Asian Fintech Summit 2026 in Almaty on September 11. Independent financial analyst Andrei Chebotarev reported the launch, describing KZTg as the first national-currency stablecoin operating in Telegram in Central Asia. The token is also positioned as the first non-dollar stablecoin on the TON network. The summit gathered more than 4,000 participants from the financial and technology sectors.

Mechanics and Compliance

KZTg is backed one-to-one by tenge, with an open smart contract and identity verification required for users. Users can top up via bank card or transfer at a rate of 1 tenge = 1 KZTg and withdraw back to tenge without leaving Telegram. Every transaction undergoes screening against sanctions and politically exposed persons (PEP) lists. The project operates within the National Bank of Kazakhstan's regulatory sandbox, with TOO 'Alt coin' as the operator. The National Bank introduced comprehensive regulation of digital asset circulation on May 1, 2026, including stablecoins backed by money.

Market Context

Dollar stablecoins hold 99.76% of the global stablecoin market, while all other currencies combined account for only 0.24%, or about $771 million of a market exceeding $320 billion. The crypto market is almost fully dollarized, meaning any Kazakhstani entering crypto previously had no alternative to buying dollars. The launch marks the first time the tenge has appeared legally on a blockchain.