Kazakhstan could invest up to $700 million in crypto assets and related companies under plans to establish a state crypto reserve funded from sovereign assets, according to the National Bank of Kazakhstan.

The central bank has set aside up to $350 million from its gold and foreign exchange reserves for investment in crypto-related assets, which may include digital assets, crypto tech stocks, and index funds or instruments linked to crypto performance, as confirmed by Governor Timur Suleimanov at a briefing on interest rates today.

Central Bank Deputy Chair Aliya Moldabekova provided additional details on the timeline and scope, noting that actual investments would commence in April or May.

She emphasized a measured…