Kazakhstan's central bank has announced plans to invest up to $300 million in cryptocurrencies and related assets, utilizing funds from its gold and foreign-exchange reserves. The investment will be executed in phases, starting with initial tranches as low as $50 million. The strategy includes direct investments in crypto tokens, exchange-traded funds (ETFs), and equity stakes in crypto-related companies. This initiative is part of a broader effort to create a national digital-asset reserve fund, with a target size ranging from $500 million to $1 billion. The Alem Crypto Fund, a state-backed initiative, has already made investments, including in BNB as of September 2025. The central bank has highlighted the importance of caution due to market volatility and has ensured that these investments are separate from public funds to safeguard social spending.