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Points of Focus
- KZTg is backed 1:1 by the tenge and runs on TON via Telegram.
- Alt coin operates KZTg under Kazakhstan’s central bank sandbox.
- Kazakhstan expands its stablecoin push as reserve transparency remains a key test.
Kazakhstan has launched KZTg, a tenge-backed stablecoin on TON that lets verified users fund, transfer and redeem value inside Telegram under the National Bank’s regulatory sandbox. The product brings the country’s stablecoin experiment directly into a messaging app without requiring a separate application.
The first mint took place on September 11 at the Central Asia Fintech Summit in Almaty. TG Coin, the project behind KZTg, said each token is backed 1:1 by tenge reserves, with issuance and redemption controlled by the issuer.
BREAKING: TON ecosystem just got a new a stablecoin and NO it’s not another USD wrapper.
It’s Kazakhstani tenge.
Source: @beincrypto pic.twitter.com/rR5t2W5XwE
— Ali (@alidotton) September 13, 2026
KZTg brings tenge payments to TON and Telegram
Project operator Alt coin said users can fund balances by card or bank transfer, move KZTg inside Telegram and convert the token back into tenge. Transactions are screened against sanctions and politically exposed person lists.
TG Coin has said that reserves are held with a commercial bank and KZTg circulation is reported to the National Bank of Kazakhstan. Launch coverage identifies Bank CenterCredit as the bank supporting the reserve, but neither the issuer nor the bank has publicly detailed whether BCC holds the full backing, what assets make up the reserves, or whether the funds are held in segregated accounts. KZTg can be redeemed 1:1 into tenge, though the project has not disclosed how much liquidity is kept available to meet redemptions.
The project also signed a cooperation agreement with Commodity Chain, an AIFC-licensed tokenization platform, to use KZTg for settlements, and a memorandum with Pax Finance covering digital-asset settlements.
Kazakhstan had already launched Evo (KZTE), a tenge-backed stablecoin on Solana, in September 2025. KZTg’s first-mover claim therefore applies to Telegram and TON, not to tenge stablecoins in Kazakhstan. TG Coin calls it Central Asia’s first national-currency stablecoin in Telegram and TON’s first non-dollar stablecoin.
Kazakhstan expands regulated stablecoin framework
From May 1, 2026, Kazakhstan’s rules classified money-backed stablecoins as digital financial assets. The National Bank licenses and supervises digital-asset service providers operating outside the AIFC, while the AIFC retains its own jurisdiction.
A July presidential decree went further, instructing authorities to develop mechanisms for stablecoin-based cross-border payments and money transfers. The move places KZTg inside a broader policy push to use stablecoins for payments and settlement, not only crypto-fiat conversion.
Reserve transparency remains the main limitation in the launch disclosure. TG Coin says KZTg is backed 1:1, while financial analyst Andrey Chebotarev told Kursiv that regular public audits would be an important test of the token’s backing. TG Coin’s September 11 launch post didn’t name an auditor or publish a reserve attestation.
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