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Global crypto platform Kraken has received preliminary approval from the AIFC’s financial regulator to enter Kazakhstan’s market (profit.kz). This is one stage of the licensing process: the company can begin operating in the jurisdiction once it meets the requirements. Kraken has also signed a memorandum of cooperation with Kazakhstan’s Ministry of Artificial Intelligence and Digital Development.
What happened
At the AI & Digital Bridge 2026 forum, Prime Minister Olzhas Bektenov met with Kraken co-CEO David Ripley. They discussed the development of the digital asset market, financial technology and approaches to regulation. They also explored how international experience could be applied to Kazakhstan’s digital economy.
Following the meeting, the ministry and Kraken signed a memorandum. It provides for cooperation on digital asset regulation and the development of digital finance. Other areas include the adoption of blockchain technology, educational initiatives and improving financial literacy among the public.
Another area is integrating traditional banking infrastructure with the digital asset market. Cooperation with the AIFC is intended to help attract international industry participants and strengthen Kazakhstan’s position as a regional crypto hub.
What this means
The preliminary approval was issued by the Astana Financial Services Authority, or AFSA, the financial regulator of the Astana International Financial Centre (AIFC). The approval paves the way for Kraken to proceed with licensing and begin operating once it meets the regulator’s requirements.
The key point for readers is the company’s status: it still has requirements to meet as part of the licensing process. We cover practical questions about using regulated platforms in our article on Kazakhstan’s legal crypto market.
David Ripley described the preliminary approval as an important milestone in the entry of Payward, Kraken’s parent company, into Kazakhstan’s market. He also highlighted the country’s potential for digital asset development. On the government side, Vice Minister Gizzat Baitursynov outlined the goal: “to create a transparent, competitive and secure environment” for companies, citizens and businesses.
The next step for Kraken
The company’s further operations within the AIFC jurisdiction depend on meeting the requirements. The memorandum sets out areas of cooperation with the ministry, from regulation and banking infrastructure to education. The ministry, for its part, will continue working to attract international participants and expand the use of blockchain across the economy.
Kraken was founded in the United States in 2011 and is operated by the Payward group of companies. The platform provides services for buying, selling, holding and trading digital assets to individual and institutional clients.
