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

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.

Photo credit: Inbusiness.kz

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.