Almaty, 28 October. Telecoms company ALTA Telecom has issued tokenised bonds worth 100 million tenge on the Kazakhstan Stock Exchange (KASE) with a fixed coupon of 21% a year; each digital financial asset costs 1,000 tenge, it is the first such issue on KASE, and the tokens are issued on the public Solana blockchain, the exchange said.
A tokenised bond is an ordinary company loan that exists from the outset as a record on a blockchain rather than in a traditional register. The investor receives the same periodic coupon payments and the return of face value at maturity, while the company benefits from simpler and faster registration of the issue. The placement was arranged by BCC Invest, which listed the format's advantages for business: simplified registration, low infrastructure costs and no requirement to audit financial statements.
The issue coincided with the day the President spoke in his address about the digital economy and a simplified regime for digital employment, and a day after the government presented to the Kurultai amendments exempting gains on digital assets sold through Kazakh providers from personal income tax for 2026–2028.
What it means: Kazakhstan's exchange market has its first real issue of digital bonds: small in size, but showing that companies can borrow through a blockchain on the country's main exchange.
Who benefits: Small companies, which can raise money more cheaply and quickly than through conventional bonds. Investors, who get a new instrument yielding 21%; the absence of a mandatory audit, however, means a higher risk that they need to take into account.
Background: Solana is a public blockchain on which tokens are issued and financial applications run; its records are open and immutable. KASE is Kazakhstan's main stock exchange, trading shares, bonds and currencies.
We have also reported that gains on digital assets may be exempted from personal income tax until 2028.
