A Government-Backed Crypto Fund Just Bought Its First Asset — Not Bitcoin

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Kazakhstan launches state-backed fund

Kazakhstan has launched the Alem Crypto Fund, a state-backed initiative aimed at building long-term digital asset reserves. Managed by Qazaqstan Venture Group and operating under the AIFC, the fund marks a significant step in the country’s regulated adoption of blockchain-based investments.

Surprisingly, the fund’s inaugural purchase was not Bitcoin (BTC) but BNB (BNB), the native token of the BNB Chain. Through a strategic partnership with Binance Kazakhstan, a local entity licensed under the Astana…



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A Government-Backed Crypto Fund Just Bought Its First Asset — Not Bitcoin


Kazakhstan launches state-backed fund

Kazakhstan has launched the Alem Crypto Fund, a state-backed initiative aimed at building long-term digital asset reserves. Managed by Qazaqstan Venture Group and operating under the AIFC, the fund marks a significant step in the country’s regulated adoption of blockchain-based investments.

Surprisingly, the fund’s inaugural purchase was not Bitcoin (BTC) but BNB (BNB), the native token of the BNB Chain. Through a strategic partnership with Binance Kazakhstan, a local entity licensed under the Astana…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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