Kazakhstan launches Alem Crypto Fund with first investment in BNB
Kazakhstan has established a state-backed crypto reserve in partnership with Binance, marking the country’s latest move into digital assets.
The initial digital asset in the fund’s portfolio is BNB (BNB), the utility token that drives transactions, fees, and governance on Binance’s blockchain, according to a Monday announcement on the Kazakhstan government’s website.
The announcement did not specify how much BNB was purchased to seed the fund, nor did it give any details about what other crypto investments might follow.
The fund, called Alem Crypto Fund, was created by the Ministry of Artificial Intelligence and Digital Development and is managed by Qazaqstan Venture Group under the Astana International Financial Centre…
