AIFC digital asset market grows more than 30-fold
The regulated digital asset market at the Astana International Financial Centre (AIFC) has grown more than 30-fold in just a few years, Qazinform News Agency reports.
Yerkegali Yedenbayev, managing director of the authorization and FinTech Office at the Astana Financial Services Authority (AFSA), presented the figures at a Government's meeting.
According to Yedenbayev, the AIFC is currently home to 35 digital asset service providers, including 11 exchanges such as Binance and Bybit, 16 investment service providers, and eight payment organizations, three of which issue stablecoins.
“The market’s performance shows that the approach we have taken is working. Transaction volumes rose from $320 million in 2023 to $10.5 billion by the end of last year, with a further $5.5 billion recorded in the first half of this year. Overall, the regulated market has expanded more than 30-fold in a relatively short period,” Yedenbayev said.
The market’s customer base has also expanded significantly. The number of clients has risen from 53,000 in 2023 to 270,000 today, representing an increase of more than 400%.
Earlier, Binance announced plans to establish a payment organization in Kazakhstan to serve the CIS and Eastern European markets.
