In an announcement Wednesday, the National Bank of the Republic of Kazakhstan said it plans to pilot a new legal tender dubbed the “digital tenge, ” Coindesk said.

The tenge is the basic monetary unit in the country equal to 100 teins ($0.23).

The bank said it will provide the infrastructure for the CBDCs but before issuance it needs to conduct a comprehensive study of the benefits and risks associated with a digital currency and the method used to issue and distribute it, according to Coindesk.

The next step will be to conduct research around CBDCs with participants from the financial markets.