Illustration: AI
Kazakhstan’s National Bank has sold 10 billion tenge worth of short-term notes in tokenized form for the first time. The auction took place on November 9, 2026, on KASE’s digital financial assets platform (t.me).
What happened
The auction offered notes from the same issue in two formats at once: traditional and tokenized. Sales totaled 40 billion tenge in traditional notes and 10 billion tenge in tokenized notes, bringing the total to 50 billion tenge.
Demand was considerably higher: investors submitted bids for 70.2 billion tenge, roughly 1.4 times the amount the National Bank sold.
Yield and term
The notes have a term of 91 days, or about three months. The auction’s weighted average yield was 15.72% a year. The annual rate serves as a benchmark for comparison: over 91 days, a holder earns roughly a quarter of that rate.
Why it matters
This is the first time the National Bank has sold its notes as digital tokens on an exchange. The tokenized and traditional notes are part of the same issue, so their terms are identical. Only the way ownership is recorded differs.
Read how the National Bank prepared to sell notes in both formats in our article on 50 billion tenge in notes.
