Solana Foundation, AirAsia MOVE, and Intebix have signed a Letter of Intent to study Evo, also called KZTE, on Solana. The project will explore whether the tenge-linked token can support travel payments in Kazakhstan through AirAsia MOVE.
As per the report, the plan focuses on a possible Solana payment system. The three partners will study how Evo can be used inside the AirAsia MOVE app.
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Solana Blockchain to Support Evo Travel Payment Tests
AirAsia MOVE is a popular travel website. It has more than 17 million monthly users. The app is also responsible for linking users to nearly 700 airlines and almost 1 million hotels around the world.
The partners consider the platform a helpful test field. They will check whether travellers in Kazakhstan can pay for flights and hotels with Evo. This would provide a viable alternative for the users apart from bank cards and cash.
The technical part of the project will be addressed in the planned work. The companies will examine how Evo can operate on the Solana blockchain. They will also conduct payment speed and settlement process tests.
The partners will also examine compliance issues. Kazakhstan has regulations regarding financial services and digital assets. The project will need to follow those rules before any wider rollout can happen.
Intebix will serve as the regulated local partner, supporting the work. The Kazakhstan-based crypto exchange will assist the project in complying with the national requirements. Its role is important because the pilot is focused on Kazakhstan’s market.
AirAsia MOVE has the potential to further explore additional use cases on its platform. These can include travel bookings and loyalty incentives. The company is interested in finding out the potential of the Solana for more than just payments.
Kazakhstan Rules May Support Evo Travel Payment Pilot
AirAsia MOVE’s Chief of People and Partnership Officer Lim Ben-Jie stated the move is in line with the company’s interest in new travel commerce tools. He added that the company is happy to partner with Intebix and Solana Foundation for the pilot.
He also added that Evo and its regulatory avenues could facilitate digital payments for travelers. According to him, users from countries like Kazakhstan can later use stablecoins for booking flights and hotels.
The project arrives amid Kazakhstan’s efforts to develop more transparent regulations for the digital finance industry. In 2023, the Astana International Financial Centre provided for the licensing of crypto exchanges and custodians. The nation’s controlled crypto industry is influenced by these regulations.
The central bank of Kazakhstan has also expressed interest in digital assets. It announced its intention to invest $350 million in cryptocurrency and digital asset firms in March. The funds would come from its gold and Federal Reserve holdings.
For Solana, the project may expand its role in Central Asia. A working Solana model could show how blockchain payments can be used in travel. It also can facilitate further controlled payment pilots in the region.
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