The National Bank Invests $350 Million in Crypto-Related Assets
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The National Bank of Kazakhstan has begun forming an investment portfolio related to crypto assets and digital financial technologies. This was announced by National Bank Chairman Timur Suleimenov, Orda.kz reports.
According to him, interest in crypto assets is growing globally: major investment funds, sovereign wealth funds and even governments of various countries are beginning to invest in them. In this regard, Kazakhstan also intends to enter this field.
I think we made the relevant board decision in November last year. We formed a portfolio. At the first stage, there are three sources that you listed. We have already formed a portfolio of up to $350 million from the gold and foreign exchange reserves. Now a list of instruments in which we will invest is being formed.Suleimenov said.
At the same time, it is not only about direct investment in cryptocurrencies. As Suleimenov explained, the investments will be directed toward shares in high-tech companies linked to cryptocurrency infrastructure and digital financial assets, as well as index funds and other financial instruments whose performance is tied to the crypto asset market.
Deputy Chairman of the National Bank Aliya Moldabekova clarified that direct investments in cryptocurrencies such as bitcoin or ether are not the main goal. According to her, the focus is currently on selecting companies operating in the field of digital assets and cryptocurrency infrastructure.
The first preliminary investments are expected to begin in April-May of this year. Until then, the funds are being temporarily placed in money market instruments and continue to generate returns.
At the same time, a similar approach is planned for the National Fund of Kazakhstan. The investment decision has already been made, and its implementation will begin in March.
Original author: Ilya Astakhov
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