#binance #hype #zec #near
28/10/25 02:16 UTC-04

Kyrgyzstan Launches National Stablecoin in Partnership with Binance

Frankmedia — Kyrgyzstan has launched its national stablecoin KGST and central bank digital currency (CBDC) in partnership with the cryptocurrency exchange Binance, according to a post on X (formerly Twitter) by Changpeng Zhao, founder of Binance and digital asset advisor to President Sadyr Japarov.

Zhao stated that Kyrgyzstan’s national stablecoin KGST, pegged to the som at a 1:1 ratio, was launched on the BNB Chain blockchain, and the digital version of the som is ready for use in government payments. He also noted that a national cryptocurrency reserve has been created, which includes Binance’s BNB token.

President Sadyr Japarov appointed Changpeng Zhao as his public advisor on digital asset development in the spring of 2025. The announcement was made on May 3 during a meeting in Cholpon-Ata.

Previously, Zhao, who was convicted in the U.S. on money laundering charges, was pardoned by U.S. President Donald Trump on October 24.

Earlier, the A7A5 stablecoin, backed by the Russian ruble and based in Kyrgyzstan, was sanctioned by the European Union, as Western governments claimed it was used to circumvent sanctions imposed on Russia due to the war in Ukraine.

In September, Kazakhstan launched its first tenge-pegged stablecoin, called Evo, maintaining a 1:1 peg with the national currency.
The Central Bank of Uzbekistan has also announced plans to issue its own stablecoins — according to chairman Timur Ishmetov, the regulator is considering two approaches: direct issuance by the central bank or via private financial institutions.

See also: "Now One Bitcoin Can Buy More Than 28 Ounces of Gold"

#Stablecoins #National

Editor: Jerg Wos
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