Foreign media on Kazakhstan: Crypto reserve in the works, says Kazakhstan’s central bank chief; Kazakhstan eyes more connection with Korean capital markets, AIFC governor

Bitcoinist.com: Crypto reserve in the works, says Kazakhstan’s central bank chief

According to Bitcoinist.com, Kazakhstan’s National Bank (NBK) is drafting a concept for the country’s first sovereign crypto-asset reserve, aiming to move beyond fragmented oversight toward institutional digital-asset management. NBK Chairman Timur Suleimenov confirmed that “work is underway on the development of its formation and management concept,” with one option being to house the reserve in a subsidiary already managing alternative assets.

The reserve is positioned as a stability tool, not a speculative play. Suleimenov noted that “sources for such a reserve may include confiscated crypto-assets, as well as cryptocurrencies mined by a crypto miner partially owned by the government.” According to a separate NBK statement via Kazinform, the bank “stands for an institutionally sound approach” based on sovereign wealth fund standards, emphasizing centralized custody “to ensure the sustainability (safety) of the state crypto-reserve.”

Turning the plan into law will require parliamentary amendments to define the reserve’s legal status and operational rules. Draft legislation is already circulating, and the NBK says it “is ready to discuss relevant amendments with MPs.”

The move comes as regulators crack down on Kazakhstan’s grey crypto market. Since banning bank payments to unlicensed platforms in 2024, authorities have blocked over 15,800 transactions worth $3.07 million. Suleimenov also supports a bill imposing liability on off-exchange crypto dealings. Despite policy momentum, he remains cautious: cryptocurrencies are “complex assets… not like a deposit,” and often used by “scammers and Ponzi schemes.”

myNews: Zijin buys US$1.2 billion Kazakhstan gold mine ahead of overseas unit’s Hong Kong listing

China’s Zijin Mining will acquire the Raygorodok gold mine project in Kazakhstan for US$1.2 billion as it prepares to list its international unit, Zijin Gold International, in Hong Kong, myNEWS reports. The deal, disclosed Monday, aims to boost Zijin’s gold reserves and support its goal of becoming one of the world’s top three gold producers by 2028, up from sixth place last year.

Zijin said the acquisition will “significantly enhance the asset scale, profit level and global industry position of Zijin Gold International and promote the listing and [share] offering of Zijin Gold International in the international capital market.” The Kazakh project, bought from Cantech, had net assets of US$291 million and posted US$202 million in profit last year. Its economic ore reserve stands at 94.9 million tonnes, with gold content estimated at 100.6 tonnes. The mine produced six tonnes of gold in 2023 at a cost of US$796 per ounce.

“Under the current gold price environment, there is clear potential to increase resources and reserves and expand production capacity,” Zijin said. The acquisition is expected to close by September, pending regulatory approvals in China and Kazakhstan.

The move follows Zijin’s plan to consolidate overseas gold assets under Zijin Gold International and raise annual gold output to 100–110 tonnes by 2028. The company produced 73 tonnes last year. Spot gold traded at US$3,281.65 per ounce on Monday, with analysts forecasting it could test US$4,000 amid global trade tensions.

The Korea Herald: Kazakhstan eyes more connection with Korean capital markets: AIFC governor

Kazakhstan aims to position itself as a gateway to Central Asia for Korean investors by linking capital markets, said Renat Bekturov, head of the Astana International Financial Center (AIFC), in an interview with The Korea Herald.

“We are especially interested in connecting our capital markets, offering Korean investors streamlined access to our financial ecosystem,” Bekturov said, citing Korea’s advanced market and strong IPO record. Though Korean firms have yet to join AIFC’s broker network, interest is growing — especially from Hong Kong, with several firms joining the Astana International Exchange (AIX).

Bekturov was in Seoul in May to promote Kazakh opportunities, highlighting Korea’s growing industrial presence, including Doosan’s 300 MW gas plant and Hyundai Engineering’s regional projects. Through AIFC Connect and the Tabadul network, the AIFC links investors to markets in Abu Dhabi, Bahrain, Moscow, and Armenia. “Korean investors connected to AIFC can now access ADX markets, all without leaving their desks,” he noted.

He also pointed to high-performing IPOs, such as Kazatomprom and KazMunayGas, which returned 20–40% annually. “We’re here to open doors,” Bekturov said. “Central Asia — and Kazakhstan in particular — offers new opportunities and higher returns.”

The Economic Times: Indian conglomerate to set up multi-specialty hospital & medical university in Kazakhstan

India’s Mont Vert Group has signed a $500 million agreement with Kazakhstan’s Big B Corporation to develop a world-class medical university and 1,000-bed multi-specialty hospital in Kazakhstan, aiming to strengthen Indo-Kazakh ties in healthcare and education, The Economic Times reports.

The project will span 243 hectares in Astana and 100 hectares in Almaty, featuring a university for 10,000 students, a high-tech hospital, and a five-star hospitality facility. “This will be a comprehensive health and education ecosystem,” the developers said. Land was allocated by the Kazakh government in October 2024, reflecting its support for foreign investment in priority sectors.

Mont Vert, a Pune-based real estate group, will lead construction. The facility is expected to serve as a regional hub for medical services and education, reducing outbound medical travel while opening new avenues for academic exchange and professional training.

India has become a key destination for Kazakh medical tourists in recent years, offering affordable care in cardiology, oncology, orthopedics, and transplants. “This project will bring international-quality treatment closer to home,” partners noted, underlining its role in regional healthcare self-sufficiency.

The Guardian: Wildfires, wet Wimbledon and a feline festival: photos of the day – Wednesday

The Guardian recognized a photo from the festival in Aktau as one of the best photos of the day.

The British newspaper published a shot taken by Turkish photographer Elkin Eskipehlivan at the artisans’ festival Dalamen Ündes Baba Öner. The photo was selected among the best from around the world.

Photo description: “Models present traditional Turkish clothing at the eighth Turkic World Women and Fashion Festival.”

You can read last week’s weekly digest here.