Kazakhstan launches its first crypto reserve fund, Alem Crypto, aiming for a long-term investment in digital assets. The fund was established by the country’s Ministry of Artificial Intelligence and Digital Development. Kazakhstan fulfilled its plans of launching a crypto treasury with the new Alem Crypto Fund. The new investment entity is already operational and was established by the Ministry of Artificial Intelligence and Digital Development of Kazakhstan. The fund will be managed by Qazaqstan Venture Group, and will be registered as part of the Astana International Finance Centre (AIFC).Kazakhstan to build strategic crypto reservesThe primary goal of the Alem Crypto Fund will be to serve as a vehicle for state-level savings, building long-term investments in digital assets. ‘The creation of the Alem Crypto Fund is a step toward advancing digital finance in Kazakhstan. Our goal is to make it a reliable instrument for major investors and a key foundation for digital state reserves,’ said Zhaslan Madiyev, Deputy Prime Minister – Minister of Artificial Intelligence and Digital Development of the Republic of Kazakhstan.As Cryptopolitan reported, the President of Kazakhstan, Jamart Tokayev, ordered the creation of a national crypto fund to modernize the country’s access to financial tools. The fund will be run in partnership with Binance Kazakhstan, a locally licensed entity and part of the global Binance ecosystem. The fund will focus first on acquiring BNB tokens, becoming one of the multiple entities to stack the native asset of Binance Chain. ‘We are proud that Binance Kazakhstan has become the strategic partner of the Alem Crypto Fund. The fund’s choice of BNB as its first digital asset highlights the trust in the Binance ecosystem and marks a new chapter for institutional recognition of cryptocurrencies in Kazakhstan,’ said Nurkhat Kushimov, General Manager of Binance Kazakhstan.Kazakhstan’s decision marks a foray into crypto that diverges from the country’s typical stance. Kazakhstan recently cracked down on illegal exchanges and regulated all remaining market operators and funds. BNB treasuries are still developingBNB treasuries are still a rarity, despite the involvement of Binance and the encouragement of Changpeng ‘CZ’ Zhao, the exchange’s co-founder. Only private companies own BNB, so far accumulating 500K tokens. BNB accumulation lags behind the drive to acquire ETH or SOL, and some of the accumulation is regional. Owning BNB can translate into staking rewards. Unlike BTC, BNB gives additional perks, including token airdrops. Currently, there is no standard for handling additional privileges for holding cryptocurrency, especially at the state or corporate level.BNB recently rallied to a higher tier, consolidating above $1,000. However, the token lacks regular purchase announcements and a long list of corporate buyers, which have boosted BTC and ETH. The smartest crypto minds already read our newsletter. Want in? Join them.