Kazakhstan CBDC to Finance Railway Line Construction to China

IconCryptoNewsTerminal Staff19 Jul, 2024

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Kazakhstan CBDC to Finance Railway Line Construction to China

Kazakhstan is piloting the use of its central bank digital currency (CBDC), the digital tenge, to pay for the construction of a railway line to China. The project will finance the expansion of a railway line from Moynty in Kazakhstan to the Chinese border. This is the second project to use the CBDC, which officials say will provide greater transparency and efficiency.