Kazakhstan’s Web3 Ecosystem Enters Global Top 10 as Regulated Crypto Market Tops $10 Billion

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ASTANA – Kazakhstan’s regulated cryptocurrency market surpassed $10 billion in trading turnover in 2025, while the country ranked among the world’s top 10 by the number of applications to international Solana hackathons, highlighting the rapid development of its Web3 ecosystem.

The regulated crypto market reached $10.58 billion in 2025, up from $320 million in 2023, Deputy Minister of Artificial Intelligence and Digital Development Gizzat Baitursynov said at a Sept. 15 government meeting. Over the same period, the number of users increased from 53,000 to 215,000.

The growth follows a pilot launched in 2022 with the Astana International Financial Centre (AIFC) and financial regulators to establish a regulatory framework for cryptocurrency exchanges. The pilot later formed the basis for a licensing and operating environment for crypto exchanges within the AIFC.

At the same time, Kazakhstan is building a domestic pool of Web3 specialists and entrepreneurs. According to Talgat Dossanov, head of the Solana Superteam KZ corporate foundation, more than 8,000 people have received training through cooperation with the Solana ecosystem over the past year, and more than 2,000 have earned certificates. Kazakhstan has also entered the global top 10 by the number of applications submitted to international Solana hackathons, Dosanov said.

About one in five certified graduates represents a government body. The training covers blockchain fundamentals, development on Solana, practical assignments and preparation of teams for international hackathons.

Web3 startups and international cooperation

The country’s Web3 ecosystem is also expanding through support for technology entrepreneurship. A total of 57 Kazakh startups have received grants worth 121 million tenge (US$262,000).

Kazakhstan has also hosted an international Solana Summit, which brought together more than 900 participants from over 30 countries. The event’s livestreams through Solana’s social media channels reached an audience of about 4 million people. According to the government, Kazakhstan remains the only country in Central Asia with an official Solana representation.

Blockchain enters financial infrastructure

The development of the Web3 sector is increasingly linked to Kazakhstan’s broader efforts to integrate digital assets into its financial system. Together with the Kazakhstan Stock Exchange (KASE), the country launched the exchange-traded fund based on the public Solana blockchain. On June 11, Alatau City and the Solana Foundation signed a memorandum in Hong Kong to further develop cooperation.

Earlier, National Bank Governor Timur Suleimenov said Kazakhstan plans to tokenize up to $60 million worth of real estate and logistics projects by the end of 2026. The initiative is intended to test digital assets as a new source of financing for the economy.

The combination of a rapidly expanding regulated crypto market, a growing pool of trained specialists and increasing startup activity reflects Kazakhstan’s efforts to build a broader Web3 ecosystem connecting education, technology entrepreneurship, international cooperation and regulated digital-asset finance.

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