The authorities of Kazakhstan launched Alem Crypto Fund in partnership with Binance Kazakhstan, a local division of the global crypto exchange of the same name. The first investment was the purchase of BNB.
According to the press release, the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan, established on September 18, 2025, is behind the initiative. The fund will be managed by private company Qazaqstan Venture Group.
Alem Crypto Fund is registered in the ecosystem of the Astana International Financial Center (AIFC), and its partner is Binance Kazakhstan. The latter received a license in this market in September 2024.
The fund will focus on long-term investments in crypto-assets. The first investment was the purchase of BNB for an unspecified amount. In the future, it may also become a tool for public savings, the release emphasizes. But without specifics.
“The creation of Alem Crypto Fund is a step towards the development of digital finance in Kazakhstan. Our goal is to make it a reliable instrument for large investors and an important basis for digital state reserves,” – commented the initiative head of the agency Zhaslan Madiev.
Head of Binance Kazakhstan Nurkhat Kushimov, in turn, noted that the choice of BNB as the first asset to be included in the reserve demonstrates confidence in the ecosystem of the exchange.
Recall, for the first time about the possible formation of a strategic cryptocurrency reserve said the chairman of the National Bank of the country Timur Suleimenov in late June 2025.
The President of Kazakhstan Kasym-Jomart Tokayev gave a corresponding instruction in early September.
However, at that time it was assumed that the reserve will be created on the basis of the Investment Corporation of the National Bank. Options to replenish the fund with confiscated and mined crypto-assets were also discussed.
Economist Eldar Shamsutdinov noted in his Telegram channel that the initiative is presented as a state initiative, but in reality it is not. Legally, the fund is a private structure, and the choice of BNB as the first investment raises questions.