Kazakhstan Joins Global Crypto Race: How Significant Are Emerging Market Crypto Reserves?

Ben Graham · Setembro 9

Kazakhstan has officially entered the global crypto race with plans to establish a National Digital Asset Fund, accumulating Bitcoin and other strategic digital assets to strengthen its economy and hedge against fiat instability.

The initiative includes building CryptoCity, a plot zone for digital payments using crypto, stablecoins, and the digital tenge. It also expands Kazakhstan’s role as a Bitcoin mining powerhouse with growing state revenues.

This move signals a larger trend of emerging markets embracing crypto reserves, aiming to diversify away from volatile commodity exports and attract foreign investment while competing with developed nations for financial innovation leadership.

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Bold Move by Kazakhstan Entering the Crypto Economy

On September 8, 2025, President Kassym-Jomart Tokayev announced Kazakhstan’s plan to create a National Digital Asset Fund, marking one of the most significant national-level crypto strategies since El Salvador’s Bitcoin adoption.

The fund will be built from seized digital assets, revenues from state-backed Bitcoin mining, and potentially allocations from the country’s sovereign wealth fund. This move cements Kazakhstan’s status as a top global mining hub, leveraging its cheap energy resources and newly streamlined regulations.

BULLISH: Kazakhstan to build "CryptoCity" and form a National Digital Asset Fund. pic.twitter.com/Yae1g7uymF

— Coin Bureau (@coinbureau) September 9, 2025

As part of the plan, Kazakhstan is launching CryptoCity in the Alatau region, a regulatory sandbox for blockchain innovation, tokenized assets, and crypto-based everyday payments.

The country will also expand the digital tenge (CBDC), approve stablecoin payments for regulatory fees, and debut Central Asia’s first spot Bitcoin ETF on the Astana International Exchange.

With over 4,000 fintech firms already operating in the Astana International Financial Centre, this ecosystem could significantly boost foreign direct investment and GDP.

KAZAKHSTAN JOINS THE BITCOIN RESERVE RACE!
This is MASSIVE – nation states are waking up to Bitcoin's strategic importance!

El Salvador
Bhutan
Kazakhstan
USA potentially next?

The sovereign FOMO is REAL. Countries that don't act fast will be left… pic.twitter.com/MG64zeCdra

— TheFiatRenegade ᛤ (@TheFiatRenegade) September 8, 2025

Social media is already comparing Kazakhstan to El Salvador’s Bitcoin play, with analysts predicting that sovereign BTC accumulation could drive the price above $150K if other nations follow.

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The Rising Power of Emerging Market Crypto Reserves

Emerging markets like Kazakhstan are increasingly viewing crypto reserves as both a financial hedge and a growth engine. Traditionally reliant on gold or U.S. dollars, these nations now see Bitcoin’s fixed supply and portability as strategic advantages in a de-dollarizing world.

For Kazakhstan, crypto reserves provide a buffer against volatile oil and uranium markets, while mining revenues, projected to grow 22% by 2027, offer a sustainable funding source.

VanEck confirms that China and Russia are settling energy trades in Bitcoin.

De-dollarization is here.

The US should immediately end sanctions on Russia or its game over for the USD. pic.twitter.com/z6QHusgaIX

— Sasha Hodder (@sashahodler) April 9, 2025

Globally, this signals a game theory cascade: if one nation adopts BTC ▲0.97% reserves, others must follow to avoid falling behind.

Some countries have already implemented the changes in the fast-evolving world, and others, like Nigeria and the UAE, are considering doing so. As market share, Kazakhstan’s hashrate has been in the top 10 since 2022, with different sources pointing to 2.5 up to 13% of total hashrate power worldwide.

However, challenges remain. Regulatory clarity is essential, with Kazakhstan planning a comprehensive digital asset law by 2026 to address AML compliance and energy concerns.

Kazakhstan President Tokayev announced in his annual address that the country will establish a “National Digital Asset Fund” under the National Bank’s Investment Corporation to build a strategic crypto reserve of promising assets. He also instructed the financial regulator to…

— Wu Blockchain (@WuBlockchain) September 8, 2025

Still, the upside is massive: sovereign BTC accumulation reduces sell-side liquidity, drives institutional confidence, and positions emerging markets as crypto innovation hubs. As more countries diversify into digital assets, this structural adoption could fuel the next major crypto bull run.

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