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Binance Set to Offer Banking-Style Services in Kazakhstan

Editorial staff
11 September 2026, 15:14
Binance Set to Offer Banking-Style Services in Kazakhstan Photo Author: Shutterstock

Starting October 2026, Kazakhstan will launch a new Category 1 regulatory status for payment service providers. This license will allow non-banking entities to deliver core financial services, such as issuing payment cards, managing customer accounts, facilitating fund transfers, and processing merchant transactions via a unified QR code system.

However, the regulatory framework imposes two critical restrictions:

  • Institutions are strictly prohibited from collecting customer deposits.

  • Institutions are barred from issuing loans or extending credit.

Currently, 13 entities have signaled interest in obtaining this license, most notably the cryptocurrency exchange Binance alongside major telecommunications operators.

 

#Binance Kazakhstan #Category 1 payment license #Kazakhstan financial sector #Payment service providers #Crypto exchange regulation #Unified QR payments #Banking services #Non-bank financial institutions #Fintech Kazakhstan #Payment card issuance

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