Kazakhstan intends to study the possibility of implementing blockchain technologies in the dual listing mechanism of securities in the stock market, with the support of Intebix, the Solana Foundation, and Jupiter.

Astana International Exchange (AIX), Kazakhstan’s stock exchange, signed a Memorandum of Understanding (MoU) with regulated crypto exchange Intebix, decentralized exchange Jupiter, and the Solana Foundation.
The parties agreed to jointly develop a dual listing model during an initial public offering (IPO), simultaneous listing of securities on a traditional exchange and in tokenized form on the Solana blockchain. According to Assel Mukazhanova, Chair of AIX, the cooperation will allow exploring prospects for integrating digital assets into Kazakhstan’s regulated financial infrastructure.
Key objectives of the collaboration include:
- assessing the legal and technical feasibility of tokenized listing;
- increasing transparency and efficiency of the stock market through blockchain technologies;
- expanding access to investment instruments via digital solutions.
As part of the initiative, Intebix will act as a liaison between AIX and the Web3 industry. The Solana Foundation and Jupiter will provide technological expertise in tokenization and decentralized trading.
Representatives of AIX emphasize that the MoU doesn’t commit the parties to an immediate rollout of solutions but serves as a starting point for joint analysis, testing, and possible implementation of the technology within current legislation. According to Talgat Dossanov, CEO of Intebix, the cooperation is a strategic step that could transform both Kazakhstan’s financial landscape and global markets. Akshay BD, nCMO of the Solana Foundation, noted that working with AIX will help create a regulatory framework supporting a new generation of IPOs aligned with modern capital market realities striving for online transition.
Recently, the President of Kazakhstan announced the upcoming launch of a special pilot zone for cryptocurrency use in the real economy sector.