Kazakhstan Officially Licenses Crypto Exchange Operator for the First Time
AI-generated illustration
Pax Finance has received Kazakhstan’s first license as a crypto exchange operator. The company will be allowed to officially buy, sell and store cryptocurrency, open branches and install crypto ATMs, Orda.kz reports.
The license was issued by Kazakhstan’s National Bank. According to Forbes Kazakhstan, Pax Finance LLP was founded by financial consultant and auditor Arman Batayev, entrepreneur Azat Bekmagambetov and entrepreneur Oryngul Yeszhanova.
Arman Batayev is the managing partner of OD Consulting, founder of the Finmentor.kz Telegram channel and a Forbes Kazakhstan contributor. Azat Bekmagambetov was previously a co-founder of Paxaro Labs and the PaxWallet.io crypto wallet. Oryngul Yeszhanova is linked to the oilfield services business in the Atyrau region.
The National Bank proposed licensing crypto exchange operators in May 2025. Licensing began on May 1, 2026.
To obtain a license, a company must have at least 50 million tenge in authorized capital, a risk management system, compliance controls, customer identification procedures and cybersecurity measures. The National Bank also checks the business reputation of founders and beneficiaries.
Original author: Alexander Zhdanov
Read also:
Latest news
- Orda.kz Editorial Team to Cease Operations on September 1
- The Price of a Degree: How Students in Kazakhstan Pay for University
- Second Przewalski’s Horse Foal Born as Species Returns to Kazakhstan
- Kazakh Mining Companies Can Recalculate Purchases if Tenge Weakens
- Kazakhstan Names First Vice President in Three Decades
- What Almaty’s Bus Shelters Are Missing
- 400-Truck Queue Builds at Kazakh–Kyrgyz Border
- Kazakhstan Ready to Help Feed and Rebuild Gaza
- Tokayev Establishes New Presidential Security Body
- Almaty Takes Back Its Nearly Century-Old Hippodrome
- No More Guesswork on Savings: Kazakhstan Tightens Energy Audits for Businesses
- Public Money Could Be Used to Rescue Failing Kazakh Banks
- Third Kazakh Woman Reported Missing in Nepal-China Flood Zone
- Falconer Convicted Over 35 Protected Birds, Spared Punishment Under Amnesty
- Kazakh Citizen Detained in Yakutia in Phone Fraud Case
- Yuan Instead of Dollars? KazMunayGas Draws Record Demand in Asia
- China Gains Oil-Market Influence as OPEC+ Weakens
- Kazakhstan to Divide Smartphones Into White, Gray and Black Lists
- Kazakhstan’s Government Formally Resigns as First Kurultai Session Opens
- Rare Lynx Sighting Recorded in Northern Kazakhstan
