The Central Bank of Azerbaijan (CBA) has completed the first stage of its special regulatory sandbox, signaling a breakthrough for the country’s cryptocurrency sector. Out of four innovative products tested, two were deemed successful — both related to virtual asset operations.
MP Vugar Bayramov announced the results, noting that the approved projects focus on making cryptocurrency transactions safer and more transparent. One initiative involves integrating the m10 application with the global exchange Binance, allowing users to deposit and withdraw funds directly to and from their Binance wallets.
The second, the Crypto Broker Platform, is designed to provide a simple and secure way to buy, sell, and store digital assets. The pilot program also aims to develop a comprehensive legal framework for the country’s emerging crypto market.
The CBA has been working on blockchain-based digital identification systems since 2019, viewing full-scale blockchain adoption as key to Azerbaijan’s financial modernization. Officials suggest that these pilot projects could pave the way for the issuance and use of cryptocurrencies in the country in the near future — a step aligned with the global shift toward digital finance.
