Today, the rapid development of the crypto industry is a global trend, digital assets and blockchain technologies are a new sector for our country, which has relatively recently acquired the regulatory framework necessary for the further development of Kazakhstan's potential as a regional crypto hub. The emergence of the legal framework will enable effective interaction between digital asset exchanges, second-tier banks, and other industry participants, as well as contribute to the creation of various joint products and services.
A vivid example of successful cooperation is the partnership between JSC “Nurbank” and JSC ATAIX Eurasia Ltd (hereinafter referred to as the ATAIX Eurasia crypto exchange), which for the first time in the Kazakh market have jointly launched a service for withdrawing funds from the fiat balance for legal entities (digital miners, brokers, and investment funds). This service allows the full automation of the settlement process when withdrawing funds from the fiat balance both on the side of the crypto exchange and the bank.
“We are pleased to announce today the launch of a new service with our partner, the ATAIX Eurasia crypto exchange, with whom we already enjoy successful cooperation within the framework of the Pilot project for the mechanism of functioning implemented by the Astana International Financial Centre (hereinafter - AIFC). Taking into account the adoption of the “Digital Assets” Law, which requires digital miners to sell at least 50% of the volume of digital assets extracted on the AIFC crypto exchanges from the beginning of the current year, we believe that the service developed will be of particular interest for digital miners.
This service allows us as a bank to conduct transactions between the crypto exchange and a legal entity as quickly as possible, through automated receipt of the request from the crypto exchange and automation of in-bank processes. If a legal entity opens an account with our bank, settlements will be made within minutes of receiving a request from a crypto exchange. Taking this opportunity, we would like to invite legal entities to service with Nurbank.
We would like to thank the ATAIX Eurasia crypto exchange for their cooperation and we are confident that in the future we will jointly present many more useful services and products to the market,” comments the Chairman of the Management Board of JSC “Nurbank” Gulnara Musataeva.
“ATAIX Eurasia, along with its partners, has already taken significant steps in liberalizing the Kazakhstani cryptocurrency market not only for private investors but also for institutional players such as miners, brokers, and investment funds. Our joint service with Nurbank will accelerate and simplify the movement of assets between the crypto and fiat markets. We thank the management and the entire bank team for their professionalism and openness to innovation!” commented the new product CEO of ATAIX Eurasia Arutyun Poghosyan.
JSC “Nurbank” has License No. 1.2.15/193 dated February 3, 2020, issued by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.
ATAIX Eurasia Ltd operates in accordance with the licenses of the Financial Services Authority (Astana Financial Services Authority, AFSA) under the Astana International Financial Centre (AIFC).