Tether has signed an agreement with Kazakhstan's central bank and the Alatau City Authority to explore a tenge-backed stablecoin. Tether said the parties will develop a proposal for a stablecoin pilot under the memorandum of understanding. The agreement also calls for an asset tokenization framework and a pilot project in Alatau that could use Tether's Hadron platform. National Bank of Kazakhstan Deputy Governor Binur Zhalenov said the central bank will prioritize financial stability, transaction transparency and investor protection.