10.08.2026•9 min

Tenge Stablecoin EVO (KZTE): The First Kazakhstani Stablecoin on Solana

CryptoMarket Analytics Department

AI Summary: Breaking down the technology, reserves, and prospects of using the digital tenge on the blockchain. Partnership of Intebix, Eurasian Bank, and Mastercard.

The Era of National Stablecoins

The development of the crypto economy requires a reliable bridge between fiat money and the blockchain. In 2026, this bridge was built: a consortium consisting of the Intebix crypto exchange, Eurasian Bank, and global partners (Solana Foundation, Mastercard) within the regulatory sandbox of the National Bank of Kazakhstan introduced EVO — the first stablecoin pegged to the Kazakhstani tenge (KZTE).

How Does EVO (KZTE) Work?

EVO is a fully backed stablecoin. The mechanism of its operation is highly transparent:

Reserving: For every EVO token issued on the blockchain, 1 real tenge is held in a special escrow account at Eurasian Bank. The reserves regularly undergo independent audits.
Solana Technology: The choice of the Solana blockchain is driven by its high throughput (thousands of transactions per second) and minimal fees (fractions of a cent). This makes EVO an ideal tool for micropayments and smart contracts.
Mastercard Ecosystem: Integration with payment systems allows using KZTE to pay for goods and services in the real world with instant conversion.

Impact on the RWA Market

The emergence of a tenge stablecoin is a powerful driver for the real estate tokenization market. Previously, Kazakhstani investors had to convert tenge into dollars (USDT), losing on exchange rate differences and fees. Now, an investor can purchase a share in the Alatau City property directly for KZTE and receive dividends in stable digital tenge as well. This protects local investors from currency risks and makes the investment process seamless.