Astana Hub Residents Drive Growth in Fintech

The number of fintech startups in Kazakhstan has surged fourfold over the past five years, growing from over 50 projects in 2018 to more than 200 by 2023, according to a study on Kazakhstan's fintech sector by Rise Research, Mastercard, the National Payment Corporation of Kazakhstan, and Tarlan Payments. Additionally, fintech now leads the country in terms of venture capital investment, with $32 million invested in 2023. The state of the fintech ecosystem across Central Asia, along with the role of banks and regulators, was a focal point of discussion at the recent Central Asia Fintech Summit in Almaty.