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Tuesday, June 28, 2022

Binance CEO Visits Kazakhstan, Promises Assistance in Developing Crypto Industry 

NUR-SULTAN – Changpeng Zhao, the founder and CEO of Binance, the world’s leading cryptocurrency and blockchain infrastructure provider, visited Nur-Sultan on Wednesday to discuss prospects for long-term cooperation during his meeting with Kazakhstan’s President Kassym-Jomart Tokayev in Akorda. 

Changpeng Zhao and President Tokayev shake hands during their meeting in Akorda. Photo credit: akorda.kz

The agenda included discussions on digital finance, joint educational programs in blockchain technologies, and the creation of a regional hub of the crypto industry in Kazakhstan.

Following the meeting, Zhao and Kazakh Minister of Digital Development, Innovations, and Aerospace Industry Bagdat Mussin also signed a memorandum of understanding. The document specifies that Binance will help advise on developing the legislative framework and regulatory policy for crypto-assets in Kazakhstan. Under the cooperation agreement, the Kazakh Ministry and Binance will also seek opportunities to integrate banking infrastructure within the cryptocurrency market and facilitate the development and implementation of distributed ledger technology.

The agreement will also support Astana Hub International Technopark of IT Startups, in nurturing local and international talents to create a regional blockchain hub.

Mussin told Zhao about the country’s efforts to create an innovation ecosystem and support startups. Photo credit: Kazakh Ministry of Digital Development, Innovations, and Aerospace Industry

“As a global leader among crypto exchanges, Binance takes responsibility for the whole ecosystem. Together with Changpeng Zhao, we considered the Binance roadmap in Kazakhstan. We also discussed the potential of creating a blockchain-oriented venture capital fund and academy to help local talents from Astana Hub go global. We really believe Kazakhstan can become a regional hub for international players in the crypto world,” said Mussin.

Zhao acknowledged Kazakhstan’s leading position in the crypto mining industry. Last year, Kazakhstan became the second biggest crypto-currency mining market in the world after China.

“Growing crypto adoption around the world to have a positive impact on society as a whole, is one of our primary goals,” said Zhao, who is also the wealthiest person in crypto, 19th in Forbes’ 2022 Billionaires ranking. “Kazakhstan is one of the world leaders in the crypto mining industry. The country was one of the first in the world to introduce the legalization of mining. We believe that, in full cooperation with the local authorities, Binance can make a great contribution to the development of the local crypto community and blockchain ecosystem in Kazakhstan.”

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