Kazakhstan has unveiled the Alem Crypto Fund, a state-initiated vehicle for long-term digital asset holdings, and said it executed a first purchase of BNB in partnership with Binance Kazakhstan. The announcement came in a ministry press statement published on September 29, and was reported by The Astana Times the next day.
The fund was established by the Ministry of Artificial Intelligence and Digital Development, is managed by Qazaqstan Venture Group, and is registered within the AIFC framework.
The AIFC Public Register lists Alem Crypto Fund OEIC Ltd. as an active Private Investment Company, while the AFSA register shows Qazaqstan Venture Group licensed to manage a collective investment scheme in respect of Exempt Funds.
What changed after the September 29 announcement
The ministry called Binance Kazakhstan a strategic partner and said the fund’s first investment was an acquisition of BNB, the native token of BNB Chain. The statement framed the vehicle as a way to build strategic digital reserves and, over time, a state-level savings tool.
How AFSA and AIFC frame the fund
Binance Kazakhstan operates under BN KZ Technologies Limited, which is listed by AFSA as authorized to operate a Digital Asset Trading Facility, provide custody, and deal in investments as principal.
AFSA also issued an August 6, 2025 written notice granting a Companies Rules waiver for Alem Crypto Fund OEIC Ltd., indicating specific regulatory treatment for the fund’s structure.
