ASTANA – A new Alem Crypto Fund has started operating in Kazakhstan for long-term investment in digital assets and building strategic reserves. It was established by the Ministry of Artificial Intelligence and Digital Development, managed by Qazaqstan Venture Group, and registered within the Astana International Financial Centre (AIFC).
Photo credit:gov.kz
The fund’s primary objective is to make long-term investments in digital assets and build strategic reserves. In the future, it may also serve as a vehicle for state-level savings.
According to Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development Zhaslan Madiyev, the creation of the Alem Crypto Fund is a step toward advancing digital finance in Kazakhstan, reported the ministry’s press service on Sept. 29.
“Our goal is to make it a reliable instrument for major investors and a key foundation for digital state reserves,” he said.
The strategic partner is Binance Kazakhstan, a licensed company within the global Binance ecosystem. In partnership with Binance Kazakhstan, Alem Crypto Fund made its first investment by acquiring BNB, the native token of the BNB Chain. BNB is used for transactions, paying fees, and network governance. With a market capitalization of over $138 billion, it is among the most influential digital assets.
“We are proud that Binance Kazakhstan has become the strategic partner of the Alem Crypto Fund. The choice of BNB highlights trust in the Binance ecosystem and marks a new chapter for institutional recognition of cryptocurrencies in Kazakhstan,” said Nurkhat Kushimov, general manager of Binance Kazakhstan.