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- AFSA introduces stablecoin payments for regulatory fees in the AIFC.
- Bybit signs as the first participant under the new framework.
- The initiative places Kazakhstan as a leader in digital finance innovation.
According to the announcement, the Astana Financial Services Authority (AFSA) introduced a new framework that allows participants of the Astana International Financial Centre (AIFC) to pay regulatory fees using USD-pegged stablecoins.
The agreement was signed on the occasion of Astana Finance Days 2025 and marks a milestone on the journey to implementing digital assets in financial regulation. Bybit Limited became the first company to sign the Multilateral Memorandum of Understanding (MMoU) with AFSA.
The signing ceremony was attended by AFSA Chief Executive Officer Evgeniya Bogdanova and Bybit Chief Operating Officer Mazurka Zeng. The cooperation signals rising faith in Kazakhstan’s regulatory framework for digital assets.
AFSA Opens Stablecoin Project to Licensed DASPs
The new project targets Digital Asset Service Providers (DASPs) licensed by AFSA. These firms must already hold approval for activities such as providing money services in relation to digital assets and operating a digital asset trading facility. Once they join as Providers, they will process stablecoin transactions on behalf of participants who need to settle regulatory fees.
The Providers act as intermediaries. They receive payments in stablecoins, complete the conversion, and remit the equivalent amount in fiat currency to AFSA’s designated account. To participate, each Provider must meet AFSA’s eligibility requirements and sign the MoU. After signing, AFSA will publish the names of Providers on its official website to ensure transparency.
This approach builds a bridge between digital assets and traditional financial systems. It enables compliant transactions while keeping AFSA’s oversight intact. The design ensures that participants benefit from faster and more efficient payments, while AFSA continues to receive its fees in national currency.
Kazakhstan Pushes Digital Economy with Stablecoin Launch
The launch reflects Kazakhstan’s strategy to expand its role in the digital economy. AFSA’s framework aligns with global trends in stablecoin adoption and positions the AIFC as a hub for innovation. The model also signals confidence to international investors who are seeking regulatory clarity in digital finance.
Stablecoins have gained strong momentum worldwide. Market data from mid-2025 shows a total capitalization exceeding $251 billion, with fiat-backed stablecoins dominating both volume and usage. Their stability and efficiency make them a preferred choice for payments and settlements in the digital asset ecosystem.
The AIFC continues to grow as a global financial center, hosting more than 4,000 firms from over 80 countries. Its regulatory environment and infrastructure rival established markets such as London, Dubai, and Singapore. By integrating stablecoin payments, AFSA further strengthens Kazakhstan’s ambition to become a leading digital finance hub.
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