Not Bitcoin, Not ETH - Kazakhstan Starts Its Reserve with BNB

Kazakhstan has launched its national cryptocurrency reserve, starting it off with a purchase of BNB.

The concept of a state crypto reserve isn’t new - it’s been debated in many countries over the past year. But Kazakhstan’s move stands out for two reasons.

First, they began with an actual purchase. As far as I know, it’s rare for governments to go down this path. Usually states acquire crypto either through mining (like El Salvador or Bhutan) or through confiscations (pretty much everyone else). Purchases do happen - El Salvador has done it - but it’s not common.

Second, they started with BNB. Normally, Bitcoin is the go-to choice. But why would a government want Bitcoin? It only makes sense if they’re willing to build an open financial system where citizens can see every state expense and money can’t just be created out of thin air. Governments aren’t ready for that, which is why their Bitcoin reserves often sit idle. BNB, however, is a different story. Buying it looks more like acquiring the income-bearing securities of a major company with a strong, officially recognized presence in the country.

To me, this feels like a smart beginning. I’m curious to see what other assets Kazakhstan will add to its reserve.

Of course, BNB is available to swap at the best rates on rabbit.io.