Regional Financial Technology (Fintech) Advancements Boost Kazakhstan, Seeing Startups Increase Fourfold
Kazakhstan has rapidly emerged as a regional fintech leader by 2025, driven by strong government support, high digitalization rates, and an attractive investment climate. The fintech sector has seen a quadrupling of startups in recent years, with fintech now accounting for 40% of venture investments in the country[1][4].
A Robust Digital Payment Ecosystem
Regarding digital payments and e-commerce, Kazakhstan boasts very high adoption levels, with 86% cashless transaction penetration and 81% mobile banking adoption, underpinning a robust digital payment ecosystem and growing e-commerce activities[4]. Major fintech players like Kaspi.kz continue to drive growth, with Kaspi reaffirming a strong profit growth outlook for 2025 based on expanding their multi-vertical super-app that integrates payments, lending, and e-commerce functionalities[3].
Embracing Artificial Intelligence
On AI adoption, Kazakhstan has embraced artificial intelligence strategically, implementing an AI development roadmap for 2024–2029. Innovations include the rollout of IrbisGPT, the country’s first open-source national language model, and the development of a larger model, KazLLM. Over 30% of financial market participants, especially banks, use AI tools, and biometric technologies are increasingly incorporated to enhance digital public services[1].
Advancing Blockchain and CBDC Projects
In the blockchain space, Kazakhstan is actively advancing projects related to asset tokenization and expanding its blockchain sector. This complements other digital initiatives and reflects the country’s ambition to become a fintech hub in Central Asia[1]. The digital tenge project is currently in the pilot phase, marking a significant step toward introducing a central bank digital currency (CBDC). This project is aligned with Kazakhstan’s push toward a modern, digital financial system, integrating with fintech innovations like digital payments, blockchain, and AI[1].
The Astana International Financial Centre (AIFC) also plays a critical role in attracting investments and supporting fintech growth with over $2.6 billion invested in H1 2025 and 567 new companies registered, including fintech firms, further strengthening the ecosystem[2].
International Money Transfers in Kazakhstan are Processed in under an Hour
Moreover, international money transfers in Kazakhstan are processed in under an hour, demonstrating the country's commitment to efficient and modern financial services[5]. This swift transaction time, combined with the high digitalization rates and government support, positions Kazakhstan as a leading fintech hub in Central Asia with strong growth prospects through 2025 and beyond[1][2][3][4].
References
- Kazakhstan's Fintech Sector
- AIFC Attracts Investments
- Kaspi.kz Growth Outlook
- Kazakhstan Digital Payments
- Kazakhstan Money Transfers
Fintech growth in Kazakhstan continues to be driven by technology advancements, as major fintech players like Kaspi.kz integrate AI tools and mobile banking functionalities into their multi-vertical super-apps.
The embrace of artificial intelligence in Kazakhstan's fintech sector is strategic, with over 30% of financial market participants, including banks, using AI tools. This, combined with the rapid progress of blockchain projects and the development of a central bank digital currency, further cements Kazakhstan's position as a regional leader in technology-driven finance.
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