Solana Partners with Kazakhstan for Blockchain Economic Zone

Generated by AI AgentCoin World
Sunday, Jun 22, 2025 2:05 pm ET1min read
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Solana has entered into a strategic partnership with Kazakhstan by signing a Memorandum of Understanding (MoU) to establish a Solana Economic Zone. This initiative is aimed at fostering tokenized capital markets and talent development, aligning with Kazakhstan's broader goals of digitization and economic diversification through emerging technologies.

The Solana Economic Zone Kazakhstan (SEZ KZ) marks the first blockchain economic zone in Central Asia. The launch was facilitated by members of the Solana Foundation in collaboration with the Ministry of Digital Development, Innovation, and Aerospace Industry (MDAI). The zone is designed to attract international Web3 companies by offering regulatory support and infrastructure access, thereby contributing to Kazakhstan's digital transformation efforts.

Kazakhstan's interest in blockchain technology is part of a broader strategy to address its power issues. Recently, the government proposed a "70/30" model where foreign investors' funds would be used to upgrade the power grid. Under this model, 30% of the new energy generated would be allocated for crypto mining, while the remaining 70% would be directed into the national power grid. This approach contrasts with regions like Nebraska, which have implemented stricter regulations on crypto kiosks and ATMs due to fraud risks. Instead, Kazakhstan is forging ahead with new rules to enhance crypto accessibility.

In addition to its strategic partnership with Kazakhstan, Solana is experiencing growing institutional interest. Despite the decline in memecoin hype, the price of

SOL
has remained stable around $140, driven by significant investments from institutions like Sol Strategies and MemeStrategy. These companies have added SOL to their corporate treasuries, raising hundreds of millions to acquire the asset. For instance, Sol Strategies purchased 122,524 SOL valued at over $18 million in the first week of May, funded through a recently closed convertible note facility. This trend is expected to continue as more institutional investors consider adding SOL to their portfolios.