Kazakhstan-based cryptocurrency exchange Intebix (Biteeu Eurasia) and Eurasia Bank completed the first joint transaction to buy Bitcoin with fiat currency.
Bitcoin transaction between exchange and bank
Bank in Kazakhstan has independently developed a process of entry and withdrawal of tenge on the exchange with low commissions.
“This is the first cryptocurrency transaction between an exchange and a client bank on the Eurasian continent. It opens access to legal purchase of cryptocurrencies for tenge for residents of Kazakhstan,” said Intebix director Talgat Dosanov.
Crypto Hardware Wallet for Bitcoin
The Bank of Eurasia also announced a plan to issue a cryptocurrency payment card at the end of the year, which can be accepted at the store. The transaction itself will usually be linked to the customer’s account account from link to Intibix Exchange.
Financial institution is now working with the National Bank on the potential risks of the project.
Recall that in June, a task force consisting of representatives of the Ministry of Finance of Kazakhstan, the Central Bank and other regulators approved the rules for the pilot of cryptocurrency transactions based on the international financial center “Astana”.
Licensed exchanges working with secondary banks are allowed to participate in the initiative.
The pilot will be implemented in 2022. If successful, the authorities will make changes to the legislation.