MultiBank Group is planning to establish a regional office in Kazakhstan and invest between USD 30 million and USD 40 million as part of an expansion into the country's digital assets market. The plans were announced on October 3, 2026, after Kazakhstan's Ministry of Artificial Intelligence and Digital Development signed a memorandum of cooperation with MEX Group Worldwide Limited, representing the UAE-based financial services group. The agreement was signed on the sidelines of the AI & Digital Bridge 2026 forum in Astana.
The proposed investment will cover opening the regional office, creating new jobs, and launching initiatives to develop Kazakhstan's digital asset and distributed ledger technology market. The agreement also includes cooperation on regulation, blockchain applications and financial and technology education.
Under the memorandum, MultiBank Group and Kazakhstan's digital development ministry will work together on several areas related to digital assets and distributed ledger technology (DLT). The company is expected to provide expertise to government agencies during discussions around digital asset regulation.
The two sides also plan to support the development of Kazakhstan's digital asset market and explore cooperation with the Astana International Financial Center (AIFC) on a regional crypto hub. Blockchain applications in public services are another area covered by the agreement.
MultiBank Group plans to invest USD 30 million to USD 40 million in Kazakhstan, with part of the funding going toward establishing its regional presence. The company also expects the expansion to create new employment opportunities.
The investment is intended to support the wider development of the digital asset market rather than being limited to the company's office operations. Details on the timing, location, and specific projects to be funded have not been disclosed.
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The memorandum includes plans for educational initiatives to improve financial and technological literacy among citizens. The partners will also examine potential uses of blockchain technology in public services. MultiBank Group, headquartered in Dubai, said it operates under the supervision of more than 18 regulators and serves more than 2 million clients across more than 100 countries.
The agreement came during AI & Digital Bridge 2026, a technology forum being held in Astana from October 1 to 3. The event has brought together investors, startups, and technology companies from multiple countries, with digital assets and emerging technologies among the areas under discussion.