Kazakhstan’s central bank plans to allocate up to $350 million from its reserves into crypto-related investments, focusing on digital asset infrastructure firms and index funds rather than direct crypto purchases.

Kazakhstan to channel $350M of national reserves into digital asset sector

Kazakhstan’s central bank Governor Timur Suleimenov announced that the bank is set to divert up to $350 million from its Gold and foreign exchange reserves into crypto-related assets, according to a Reuters report on Friday.

During a briefing on interest rates, Suleimenov emphasized that the investments will target shares in high-tech crypto infrastructure firms and crypto-linked index funds.

“We are currently developing a list of instruments in which we…