The National Bank of Kazakhstan held a presentation of the digital tenge
The third new form of the national currency - the digital tenge - was presented by the National Bank of Kazakhstan. The republic will simultaneously use cash, non-cash and digital forms of tenge, Sputnik reports with reference to the press service of the Supreme Audit Chamber of Kazakhstan.
At the presentation, the chamber was told about testing the digital tenge and how it differs from conventional non-cash payments through banking applications. The project is aimed at the development and modernization of the national payment system of Kazakhstan, its adaptation to new external challenges, the report says.
Also, the introduction of a digital currency will make it possible to use the unique technological characteristics of the country. We are talking about the possibility of paying without the Internet.
"The digital tenge, as the third form of the national currency, will be considered the same legal tender, its price will be equal to the tenge exchange rate and it can be easily exchanged for cash or non-cash funds," the press release says.
The National Bank, he added, is conducting a comprehensive study of the advantages and risks of digital currency, its impact on monetary policy, financial stability and the payment services market.
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