AIFC boosts Kazakhstan’s digital asset industry as cryptocurrency trading approaches $500mn since January  — Daryo News

AIFC boosts Kazakhstan’s digital asset industry as cryptocurrency trading approaches $500mn since January

The Central Asia Fintech Summit 2024 is currently underway at the Royal Tulip Hotel, gathering thought leaders and experts from the fintech industry to address pressing challenges and opportunities. Taking place from October 8-9, this summit is essential for addressing the rapid evolution of financial technologies, as well as critical security and regulatory challenges.

Photo: Central Asia Fintech Summit 2024 is underway at the Royal Tulip HotelSource: Renat Bekturov / LinkedIn

Attending the summit, Renat Bekturov, governor of the Astana International Financial Centre (AIFC), highlighted several forward-looking initiatives aimed at fostering innovation in Kazakhstan’s financial landscape. Among these is the AIFC Intellectual Property Law, designed to protect innovations within its jurisdiction. Bekturov also discussed the Tabys platform, which aims to enhance financial literacy and broaden access to investment tools for Kazakh citizens.

Additionally, the AIFC promotes the growth of Kazakhstan’s digital asset industry. Since January, trading volumes on cryptocurrency exchanges have surged to nearly $500mn, with the number of clients increasing by 134% to reach 122,000. This trend signals significant potential for further growth. To support this expanding market, new regulatory frameworks have been established to oversee digital asset activities based on recent pilot program outcomes.

The summit aims to facilitate the exchange of knowledge and ideas that will advance payment systems and financial technologies not only in Central Asia but globally. With an anticipated attendance of 1,500 participants and over 50 speakers, the event is said to cover vital topics such as digital currencies, artificial intelligence (AI), blockchain, and cybersecurity.

Other speakers include Timur Suleimenov, Chairman of the National Bank of Kazakhstan, and representatives from major fintech firms like Visa and Mastercard. The discussions are said to focus on developing regulatory frameworks that foster innovation while ensuring consumer protection.

Participants have the opportunity to network through various panel discussions and workshops designed to connect industry leaders, startups, and regulatory bodies. Registration for the event is free but required, making it accessible to anyone interested in the evolving fintech landscape.

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