BAKU, Azerbaijan, October 27.
International cryptocurrency platform Kraken has received
in-principle approval from the Astana Financial Services Authority
(AFSA), marking a step toward entering Kazakhstan's digital assets
market, according to Kazakhstan's Ministry of Artificial
Intelligence and Digital Development.
The approval was announced following a meeting
between Kazakh Prime Minister Olzhas Bektenov and Kraken Co-CEO
David Ripley on the sidelines of the AI & Digital Bridge 2026
international forum in Astana.
During the meeting, the sides discussed prospects for
developing the digital assets market, introducing modern financial
technologies, improving regulatory approaches, and applying
international experience in Kazakhstan's digital economy.
Following the meeting, Kazakhstan's Ministry of
Artificial Intelligence and Digital Development and Kraken signed a
memorandum of cooperation aimed at developing the digital assets
market and introducing blockchain technologies in the country.
The in-principle approval is one of the key stages in
the licensing process and creates the conditions for the company to
begin operating within the regulated jurisdiction of the Astana
International Financial Centre (AIFC) once it meets the established
requirements.
The approval confirms the interest of one of the
world's major international cryptocurrency platforms in entering
the Kazakh market and creates new opportunities for further
development of the country's digital assets industry.
The memorandum provides for cooperation on improving
digital asset regulation, developing digital financial markets,
integrating traditional banking infrastructure with the digital
assets market, introducing blockchain technologies, and
implementing educational initiatives to improve public financial
literacy.
Particular attention is being paid to cooperation
with the AIFC to strengthen Kazakhstan's position as a regional
crypto hub and create favorable conditions for attracting leading
international participants in the digital assets industry.
“The entry of major international players such as
Kraken into the Kazakh market is an important step in developing
the domestic digital assets industry. Our task is to create a
transparent, competitive and secure environment in which
international companies can introduce advanced technological
solutions, while citizens and businesses gain access to modern
financial services. The signing of the memorandum with Kraken
creates additional opportunities to exchange international
experience, develop blockchain technologies and strengthen
Kazakhstan's position as a regional crypto hub,” Deputy Minister of
Artificial Intelligence and Digital Development Gizzat Baitursynov
said.
In turn, Ripley noted that Kazakhstan demonstrates
significant potential for developing the digital assets industry
and is creating favorable conditions for international market
participants.
"Receiving AFSA's in-principle approval is an
important step toward Payward, the parent company of Kraken,
entering the Kazakh market. We highly value the constructive
dialogue with government authorities and look forward to further
cooperation in developing a secure, transparent and innovative
digital assets ecosystem,” Ripley said.
The Ministry of Artificial Intelligence and Digital
Development said it would continue working to establish a favorable
regulatory and technological environment for the digital assets
industry, attract international market participants and expand the
practical application of blockchain technologies in the country's
economy.
For reference, Kraken is one of the largest
international cryptocurrency platforms. Founded in the United
States in 2011, it provides retail and institutional clients with
services for buying, selling, holding, and trading digital
assets.
Kraken is operated by the Payward group of companies
and serves markets in North America, Europe, and other regions. The
platform supports a wide range of digital assets and fiat
currencies and offers professional trading and institutional
services.
