Kraken receives in-principle approval for Kazakhstan operations

Kraken parent company Payward has received in-principle approval from the Astana Financial Services Authority (AFSA) to enter the Kazakhstan digital assets market. The approval allows for proposed operations within the Astana International Financial Centre (AIFC), including digital-asset trading, investment dealing, and custody services.

Following a meeting between Kazakh Prime Minister Olzhas Bektenov and Kraken Co-CEO David Ripley, the Kazakhstan Ministry of Artificial Intelligence and Digital Development signed a memorandum of cooperation with Kraken. This agreement focuses on developing the digital assets market, introducing blockchain technologies, and integrating traditional banking infrastructure with digital assets.

While the in-principle approval is a significant step in the licensing process, it is not a full authorization to serve all customers immediately. Final licensing and specific details regarding eligible products and clients are still pending. The expansion aims to connect Kazakh customers with global order books through Kraken’s existing network.