Kazakhstan and China Forge Digital Currency Corridor: QR Payment Integration, Swap Deal, and De-Dollarization Reshape Belt and Road Finance by End of 2026

哈萨克斯坦与中国打造数字货币走廊：二维码支付互通、本币互换和去美元化重塑一带一路金融格局

Kazakhstan and China are accelerating a sweeping digital financial integration that will link their national payment systems, digital currencies, and banking infrastructure by the end of 2026 — a move with far-reaching implications for Belt and Road trade settlement and the global de-dollarization agenda.

哈萨克斯坦和中国正在加速推进全面的数字金融一体化，计划于2026年底前贯通两国支付系统、数字货币和银行基础设施——这一举措对一带一路贸易结算和全球去美元化进程具有深远影响。

The centerpiece of the agreement is a new three-year bilateral currency swap between the National Bank of Kazakhstan and the People's Bank of China, signed during a series of high-level meetings in early August 2026. Deputy Governor Binur Zhalenov stated the swap, which includes an option for extension, is expected to "strengthen the foundation for trade and investment" and expand the use of the tenge and yuan in bilateral settlements. The two sides also agreed to integrate Kazakhstan's digital tenge — which became legal tender on July 18, 2026 — with China's digital yuan through two parallel channels: the mBridge multilateral CBDC platform and bilateral integration via the CBETS system. Pilot projects are expected to launch before the end of the year.

协议的核心是哈萨克斯坦国家银行与中国人民银行签署的新的三年期双边本币互换协议，该协议在2026年8月初的一系列高层会议期间签署。哈萨克斯坦央行副行长比努尔·扎列诺夫表示，该互换协议（含展期选项）有望"夯实贸易和投资基础"并扩大坚戈和人民币在双边结算中的使用。双方还同意整合已于2026年7月18日成为法定货币的数字坚戈与中国的数字人民币，通过两条并行渠道推进：mBridge多边央行数字货币平台和通过CBETS系统的双边整合。试点项目预计于年底前启动。

On the consumer side, QR payment integration between the two countries is expected before the end of 2026, following agreements between Kazakhstan's National Payment Corporation and UnionPay International. This would allow travelers and businesses on both sides to scan codes seamlessly across borders, a practical de-dollarization step that also deepens tourism and retail linkages along the Belt and Road. Kazakhstan is also moving to give domestic financial institutions centralized access to China's CIPS (Cross-border Interbank Payment System), reducing infrastructure fragmentation and expanding national-currency settlement channels for Kazakh banks.

在消费端，两国间的二维码支付互通预计于2026年底前实现，基于哈萨克斯坦国家支付公司与中国银联国际之间达成的协议。这意味着双边旅客和企业将能够无缝跨境扫码支付——这既是去美元化的务实一步，也将深化一带一路沿线的旅游和零售纽带。哈萨克斯坦还正为国内金融机构推进集中接入中国人民币跨境支付系统（CIPS），降低基础设施碎片化，为哈方银行扩展本币结算渠道。

These bilateral moves are part of a broader Chinese strategy to internationalize the yuan. According to a Bloomberg report published August 6, at least six Chinese commercial banks have added about a dozen foreign currencies — including the Thai baht, Brazilian real, and Kazakhstan tenge — for direct yuan settlement and clearing in 2026. This means Chinese importers and exporters can now settle cross-border transactions in these currencies without routing through the US dollar, reducing both costs and exposure to dollar-based sanctions regimes.

这些双边举措是中国推进人民币国际化更广泛战略的一部分。据彭博社8月6日报道，至少六家中国商业银行在2026年新增了约十几种外币——包括泰铢、巴西雷亚尔和哈萨克斯坦坚戈——用于人民币直接结算和清算。这意味着中国进出口商现可直接以这些货币进行跨境交易结算，无需绕道美元，降低了成本和受美元制裁体系的风险敞口。

Kazakhstan also proposed that Chinese financial institutions participate in the development of the Alatau special economic zone near Almaty as a future center for digital finance, artificial intelligence, and international capital — positioning it as a potential fintech bridge between China and Central Asia. Discussions also covered the possibility of Chinese banks issuing yuan-denominated debt instruments in the Kazakhstani market and increasing their local banking presence. For Belt and Road investors, the financial plumbing being laid between Kazakhstan and China signals a maturing BRI ecosystem where digital infrastructure complements physical connectivity — and where the yuan's expanding role creates new options for cross-border capital deployment.

哈萨克斯坦还提议中方金融机构参与阿拉木图附近的阿拉套（Alatau）经济特区开发，将其定位为数字金融、人工智能和国际资本的未来中心——打造中国与中亚之间的金融科技桥梁。双方还讨论了中资银行在哈市场发行人民币计价债券及扩大本地银行存在感的可能性。对一带一路投资者而言，哈萨克斯坦与中国之间铺设的金融管道，标志着一带一路生态正从物理联通走向数字金融互联——人民币角色的扩大，也为跨境资本部署创造了新的选择空间。