Kazakhstan Unveils Evo Solana Stablecoin with Mastercard Integration

Published: 2025-09-24 09:23:39 |

Kazakhstan’s National Bank has launched Evo, a tenge-backed Solana stablecoin, through its digital asset regulatory sandbox. The pilot is issued by Intebix in partnership with Eurasian Bank and Mastercard. This Solana stablecoin aims to test real-world use cases in Kazakhstan’s financial ecosystem and improve payment infrastructure. The Solana stablecoin leverages Solana’s high-throughput, low-latency blockchain to enable fast payments, crypto-fiat gateways, digital asset swaps and crypto card transactions. Mastercard will integrate Evo with global stablecoin issuers to support cross-border payments and international settlement. Separately, Solana signed an MoU with Kazakhstan’s Ministry of Digital Development to create a blockchain economic zone. The National Bank provides the legal framework but remains hands-off on direct issuance. The project explores virtual currency market dynamics, boosts financial inclusion and could shape future crypto payment policies. The launch comes amid a global wave of stablecoin adoption, from South Korea’s talks with Circle and Tether to Standard Chartered’s Hong Kong license plan and Citigroup’s $1.6 trillion market forecast by 2030. Traders should watch SOL network activity for bullish signals.

Bullish

The launch of the tenge-backed Evo Solana stablecoin marks a significant pilot in Kazakhstan’s digital asset strategy. In the short term, traders may increase SOL activity as network usage spikes for payments, crypto-fiat gateways and cross-border transfers via Mastercard. Expanded on-chain volume often translates to higher demand for SOL, sending bullish signals. In the long term, regulatory clarity provided by the sandbox and the MoU for a blockchain economic zone could cement Kazakhstan as a blockchain hub. This may drive sustained Solana adoption, deeper ecosystem growth and continued network fees revenue. Combined with growing global stablecoin trends, Evo’s success is likely to underpin a bullish outlook for SOL.