Czech Central Bank tests digital assets with $1 million pilot portfolio
The Czech National Bank has purchased about $1 million in bitcoin and other blockchain-based instruments as part of a new pilot program designed to gain practical experience with digital markets. The initiative, announced Thursday, marks the bank’s first attempt to work directly with digital assets outside its official reserves, Kazinform News Agency correspondent reports.
The bank said most of the portfolio consists of bitcoin. It also includes U.S. dollar-denominated stablecoins and a tokenized deposit acquired through a regulated exchange, although the statement did not identify the platform or the specific assets involved. The portfolio will remain separate from the institution’s international reserves and will not be expanded.
Officials said the project aims to test the full operational chain of purchasing and holding digital assets. This includes technical key management, multi-level approval procedures, crisis scenarios, security mechanisms, and verification of anti-money-laundering compliance. Transactions will take place within the portfolio for testing purposes, and the composition may change as additional assets are evaluated. The bank plans to review the results within two to three years.
Governor Ales Michl said the move reflects rapid changes in digital payment and investment tools. He noted that, in the future, consumers may be able to use the Czech crown to buy tokenized government bonds or other financial products through common digital channels.
The bank emphasized that the project does not represent an immediate step toward adding digital assets to its official reserves. The question remains open and would depend on legal, regulatory, and market considerations.
Earlier this year, the idea of examining bitcoin for reserve purposes received a cold response from the European Central Bank. Although the Czech Republic does not use the euro, it is part of the European System of Central Banks.
The Czech National Bank added that current legislation already allows it to invest in bitcoin through an exchange-traded fund, but this option is not being pursued for now because bitcoin still has a limited history and characteristics the bank considers signs of an immature asset.
As previously reported, Kazakhstan aims to become a fully digital nation within three years. President Kassym-Jomart Tokayev has emphasized the need for the mass adoption of AI to modernize all sectors of the economy.