uzbekistani internet trading firm,magnet internet magazine,magnetic trading exchange,magneutopia portal source The New York Times title ‘Magnet’ trading exchange is about to launch in Kazakhstan source The Guardian article Kazakh Internet Trading Exchange aims to become a digital trading exchange by 2020, says chief executive article Kazakhstan is set to become the first country in the world to offer a digital currency trading platform, according to the chairman of the country’s central bank, who said the launch of the new digital currency exchange was part of a “global initiative” by the country.
The Central Bank of Kazakhstan announced on Monday that the new exchange, called Magnet, will open in Kazakhstan by the end of 2020, with its aim to be “a global digital trading platform”.
The central bank is launching the exchange with the aim to bring in foreign capital into the country, which is also the world’s top producer of gold.
Kazakhstan has been a major investor in gold, and in 2017, Kazakhstan announced a new investment of $25bn in gold mining projects.
The central banker, who did not give a date for the launch, said the new platform will help attract capital into Kazakhstan.
“I hope that the [new] platform will bring more foreign capital and create more jobs and opportunities in the country,” Magneutopian, a company founded by the Kazakhstan-based businessman Nazarbayev, said in a statement.
Magnet will be run by a Kazakh company called Alibai, which plans to create the platform.
The company will create a website, which will help users create and trade cryptocurrency assets, Alibay said.
The launch of Alibaya is part of Kazakhstan’s broader plan to become an international hub for cryptocurrencies, and aims to develop the industry further by launching new companies and building new services, according the Central Bank’s statement.
Alibaya said the company would also work with the Kazakhstan Mining Development Fund (KMDF) to help develop new mining projects in Kazakhstan.
According to the KMDF, Kazakhstan has the second-highest gold reserves in the Middle East and Europe.
Alubaybekov, a Kazakh-born businessman, said his company would create a cryptocurrency trading platform to offer foreign investors access to gold and silver.
The website, Alubay, is aimed at attracting investors and will also provide technical assistance to investors, Alumbaybekova said.
Alumbayekova added that Alibaga would also help other cryptocurrency exchanges in the region by providing technical support.
Alabay is an online platform that provides gold and other precious metals trading services in Kazakhstan, Alabay said in the statement.
The platform will operate from Kazakhstan and will offer the trading of gold and gold bullion.
Aljabay aims to expand into other countries, including the US, according Alibaaev.
“We are in the process of opening more offices, and hope to open up operations in other countries in the near future,” Alibagoer, a cryptocurrency exchange, said.