Cryptocurrency exchange based on Japanese technologies to open in Kazakhstan

Cryptocurrency exchange based on Japanese technologies to open in Kazakhstan

A cryptocurrency exchange developed on Japanese technologies will be opened in Kazakhstan. This was announced during an online meeting at the Embassy of Kazakhstan in Japan. The exchange is planned to operate on the platform of the Astana International Financial Center. 

In addition, an agreement was reached during online negotiations that Japanese companies would launch a project for digital transformation and implementation of blockchain technologies in industry, agriculture, infrastructure and communications based on Japanese technologies. Also, two Japanese companies, together with the Kazakh enterprise, agreed to build a plant for the production of metal products for the oil, mining and construction industries of Atyrau region. The project cost is estimated at US$8 million. 

Kazakh Ambassador to Japan Yerlan Baudarbek-Kozhatayev said that despite the economic turbulence caused by the spread of the novel coronavirus, Japanese investors are expressing their interest in favorable investment conditions established in Kazakhstan. 

“Agreements on the implementation of these projects demonstrate the potential for cooperation between small and medium-sized businesses,” Baudarbek-Kozhatayev said. 

During the meeting, the parties signed bilateral agreements on the implementation of a number of investment projects in Kazakhstan for a total of US$46 million. 

Japan is one of the biggest investors in Kazakhstan. Since 1993, the country has invested US$7.3 billion in Kazakhstan.