Binance Partners with Kazakhstan’s Biggest Airline – Air Astana

Binance, the world’s largest crypto exchange, announced a partnership with Air Astana – the largest airline in Kazakhstan. This partnership will allow airline customers to convert their flight reward points into various cryptocurrencies.

In the series of deals and partnerships recently announced between Binance and the central Asian country of Kazakhstan, the latest is undoubtedly the most creative. Binance announced on February 1 a collaboration with Air Astana that will see its customers convert their flight rewards into cryptocurrency. Air Astana announced the partnership via a press release that customers can now “enter the cryptocurrency world with our partnership with Binance.” This partnership is a time-limited opportunity from February 1 to February 28, allowing Club Air Astana customers to use their points and exchange them for cryptocurrency. The airline highlighted “limited opportunities” to convert their accumulated points to Binance USD (BUSD), Binance’s dollar-backed stablecoin.

Customers can Covert BUSD to Fiat

This partnership also allows customers to earn up to 20 BUSD, which they can cash out in fiat. However, the maximum number of points that can be converted is limited to 1,000. The conversion offer has an exchange rate of 1 Nomad Blub bonus point to 0.01 BUSD. In order for the conversion to be verified, Nomad members must register an account on the Binance exchange platform or must already be listed on the exchange. Reward customers who take advantage of this offer will be given a “welcome bonus of 10BUSD”.

Binance says this collaboration offers “an easy entry into the world of cryptocurrencies.”

Binance’s Engagement with Kazakhstan Seems Endless

Binance and the central Asian country have, over the last few months, forged many partnerships and made many new ventures. Recently, Binance partnered with the state organization of Kazakhstan to launch a country-wide blockchain education program. This initiative aims to qualify students in Kazakhstan to work in the crypto industry. As such, the Kazakhstani government will add blockchain courses to the curricula of higher education institutions across the country. This initiative will equip more than 40,000 students by 2026 with blockchain training at universities and higher education institutions across the country.

Kazakhstan’s central bank, National Bank of Kazakhstan (NBK), said it will integrate its CBDC into Binance’s blockchain network, BNB Chain, in October. In December, NBK began testing its CBDC – Tenge digital, in 2021 and announced that it would work to deploy its CBDC as early as 2023 and would extend the project through the end of 2025. NBK found the CBDC viable after it completed phase second test and published a whitepaper explaining the need for a CBDC.

Kazakhstan and Binance share the vision of “development of a secure virtual asset market in the country and creation of a long-term and sustainable interaction platform.” To achieve common interests, Binance signed a Memorandum of Understanding (MoU) with the Kazakhstan Financial Monitoring Agency as part of Binance’s global law enforcement training program to combat financial crime.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.