Kazakhstan launched its own state-backed investment vehicle, Alem Crypto Fund, on Tuesday, 30 September 2025, as the nation aims to invest in long-term cryptocurrency holdings, according to a CoinMarketCap report.
According to the agency report, the fund made its first purchase of the Binance Coin, partnering up with the company Kazakhstan for the initiative.
Why did Kazakhstan create a crypto fund?
Kazakhstan’s Ministry of and Digital Development has created the Alem Crypto Fund, which operates under the management of Qazaqstan Venture Group within the financial hub known as the Astana International Financial Centre (AIFC).
According to the news portal’s report, citing the officials, the exact amount of Binance Coin (BNB) or plans for additional cryptocurrency investments remained undisclosed.
Alem Crypto Fund’s aim is to make long-term investments in digital assets while building strategic reserves for the country. The BNB also serves as a utility token powering transactions, fees, and governance on Binance’s infrastructure.
Binance’s partnership with Kazakhstan government
According to the CoinMarketCap report, has maintained its partnership with Kazakhstan’s government since 2022. Binance’s former CEO, Changpeng Zhao, signed a memorandum of understanding (MoU) with the Ministry of Digital Development.
This came after Kazakhstan introduced KZTE, its tenge-backed stablecoin on the Solana network, through partnerships with Mastercard, Intebix, and Eurasian Bank, according to the news report.
has a population of nearly 20 million people, marking a significant hub for crypto mining operations, as per the report.
President Kassym-Jomart Tokayev called for regulators to adopt more transparent legal frameworks for digital assets in 2024, following the authorities’ shutdown of 36 unlicensed exchanges. In May 2025, the country unveiled plans for CryptoCity, a pilot zone permitting payments within its borders.
Earlier this month, Tokayev advocated for a strategic crypto reserve and a comprehensive digital asset ecosystem, with legislation expected before 2026. The Alem Crypto Fund represents a state-backed initiative, highlighting the growing trend of countries adding BTC and crypto to national treasuries, though it differs from a central bank reserve.
Other nations like El Salvador and Bhutan have crypto reserves and state-backed mining operations, while Brazil and Indonesia are exploring options to build national strategic digital asset reserves.