ASTANA — Kazakhstan’s National Bank will launch the Gold Coin project, a digital equivalent of the investment coin, on March 17.
The ÚKI investment coin, made of Au 999.9 gold, has a face value of 100 tenge (US$0.2) and weighs 31.1 grams (1 troy ounce). Photo credit: National Bank of Kazakhstan.
According to a press release from the bank on March 13, a new investment product will be available for purchase through the Astana International Exchange (AIX)’s Tabys mobile app.
The Gold Coin project aims to offer Kazakhstan’s citizens an alternative means of investment and capital growth, leveraging the digital economy and modern technology. Each Gold Coin represents 1/20 of a troy ounce of gold, with its value determined by the price of gold set by the London Bullion Market Association (LBMA) and the official exchange rate of the tenge to the U.S. dollar from the day before the transaction.
Through the Tabys app, users can buy, sell, and present Gold Coin online. Additionally, after accumulating twenty units, users can exchange their Gold Coins for a physical investment coin, ÚKI, at any branch of the National Bank.
The ÚKI investment coin will be officially available for purchase starting March 17.
