Kazakhstan Launches Alem Crypto with Binance to Back BNB Reserves

- Kazakhstan unveils its first national crypto fund, Alem Crypto. - The fund, developed with Binance, focuses on BNB investments. On September 29, 2025, GOV.KZ, Cryptopolitan, and Interfax reported that Kazakhstan has officially launched its first regulated cryptocurrency reserve fund, the Alem Crypto Fund. Developed in collaboration with Binance Kazakhstan, the local entity of the world's largest cryptocurrency exchange, this launch signals the country’s strategic move to embrace digital finance and modernize state-level financial tools. Led by Kazakhstan's Ministry of Artificial Intelligence and Digital Development, the Alem Crypto Fund was registered with the Astana International Finance Centre (AIFC) and is managed by the Qazaqstan Venture Group. This initiative reflects Kazakhstan’s focus on leveraging blockchain technology to position itself as a leader in the Web3 space and institutional crypto adoption. This initiative follows an executive order from President Kassym-Jomart Tokayev to create a national crypto fund. On September 29, 2025, Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development Zhaslan Madiyev said at the launch event, “The creation of the Alem Crypto Fund is a step toward advancing digital finance in Kazakhstan. Our goal is to make it a reliable instrument for major investors and a key foundation for digital state reserves.” The fund’s initial investment will center on acquiring Binance's BNB token, the native cryptocurrency of the BNB Chain. On September 29, General Manager of Binance Kazakhstan Nurkhat Kushimov said in a statement, “The fund's choice of BNB as its first digital asset highlights the trust in the Binance ecosystem and marks a new chapter for institutional recognition of cryptocurrencies in Kazakhstan.” This collaboration with Binance shows Kazakhstan’s commitment to institutionalizing cryptocurrency investment and signals greater adoption of digital assets at a sovereign level. Moreover, the initiative aims to attract global co-investors while setting a precedent for integrating crypto reserves into public finance. As of September 29, 2025, at 17:08 UTC, BNB (BNB) was trading at $1,006.75, reflecting a 2.896% increase in 24-hour trading volume, according to CoinMarketCap.