On 12-13 October, the Digital Bridge 2023 international technology forum was held in Astana with the participation of the Head of the State Kassym-Jomart Tokayev, where achievements in the IT industry from around the world were demonstrated.

Within the framework of the forum, a unique project of tokenization of real assets was presented, developed by the Intebix crypto exchange, Mastercard and FinTech company AIRBA Pay of the Technodom ecosystem group. The project allows the entire Kazakhstan crypto community to legally and conveniently convert their cryptocurrency into Technodom Plus bonuses on the Intebix exchange with the subsequent purchase of goods or services in the Technodom retail network.

“Tokenization of real assets is an innovative approach that allows you to convert traditional assets, ranging from simple goods in the store, ending with real estate and securities, into digital tokens on the blockchain. This technology opens up great prospects for investors, and we are happy that we are contributing to this process in Kazakhstan,” said Rafal Trapka, CEO of Mastercard in Central Asia.

In the process of tokenization, blockchain technologies and smart contracts are used to create so-called digital tokens. Each digital token is a title to a real asset (secured tokens). In the future, participants of the Technodom Plus program will also be able to easily convert their bonuses into cryptocurrency for further trading on the Intebix exchange or for withdrawing in tenge using Eurasian Bank Mastercard cards.

“Intebix and Mastercard plan to continue participating in the tokenization of loyalty bonus programs of retail chains, banking financial products, as well as raw materials of major manufacturers of Kazakhstan,” said Shukhrat Ibragimov, President of Intebix Exchange, Member of the Eurasian Bank Board of Directors.

“Loyalty for the customer should be in an open ecosystem, bonuses are an asset that should be monetized and available as a financial tool to manage it, to achieve profit and the convenience of managing payments, not limited with the network of the company where it was earned. A global bonus system based on a tokenized asset is the best solution for decentralized loyalty management,” said Vyacheslav Yeliseyev, FinTech direction Manager in the Technodom and AIRBA ecosystem group of companies.

Tokenization of real assets is becoming one of the fastest growing trends in the global market. According to the Boston Consulting Group and the investment company ADDX, the tokenization of assets as a business will increase 50 times to $16.1 trillion (an optimistic scenario is $68 trillion) by 2030, which will amount to 10% of the global gross domestic product. Global investment giants – Franklin Templeton, Hamilton Lane and Mirae Asset Securities, with assets under management worth more than $1.6 trillion have already initiated tokenization projects on the blockchain.

Additional information:

Intebix (Biteeu Eurasia Ltd) is an official exchange licensed in the AIFC, Australia, Poland and Estonia. Biteeu became the first exchange in the world to launch exchange servers into space on a SpaceX rocket. The mission of the exchange is to create a new, legal market for tokenized assets.

Eurasian Bank is a socially significant financial institution in Kazakhstan, the sixth in terms of assets. The first of the Kazakhstan banks performed a crypto-fiat operation last year, is developing a pilot project on the use of a crypto card, and also participates in the tokenization project of the loyalty program of Technodom, its partner’s retail network.

Mastercard (NYSE: MA) is a global technology company operating in the payment industry. Our mission is to develop and strengthen the digital economy by providing secure, simple, technological and affordable transactions, giving benefits to everyone and everywhere. Using secure data and networks, building partnerships and relying on what inspires, we provide innovations and solutions that help people, financial institutions, governments and businesses realize their greatest potential. Our culture and everything we do inside and outside the company is determined in accordance with the coefficient of morality (decency quotient, DQ). We do business in more than 210 economies and create a sustainable world that opens up invaluable opportunities for everyone.