Kyrgyzstan has launched a national stablecoin in cooperation with the world’s largest exchange, Binance. The action represents one of several significant developments following multiple contacts between the Central Asian country and Binance co-founder and former CEO Zhangpeng Zhao.
Kyrgyzstan launches a stablecoin on the BNB chain
In April 2025, Chanpeng Zhao negotiated a partnership with Kyrgyzstan’s National Investment Agency, which saw the Binance exchange offer its services in promoting cryptocurrency and blockchain adoption in the country. in Share X On October 25, Zhao shared some updates from this partnership after a meeting with the country’s National Council for the Development of Virtual Assets and Blockchain Technologies.
Notably, Kyrgyzstan has now launched a national stablecoin known as KGST, which is hosted on the BNB chain and pegged 1:1 to the country’s currency. The former Soviet country has also completed plans to create a central bank digital currency (CBDC), which is now awaiting its launch. According to Zhao, the central bank digital currency and the national stablecoin will operate in parallel, with the former limited to government-related payments.
Kyrgyzstan creates a national cryptocurrency reserve
In other exciting developments from Zhao’s meeting with the Kyrgyz government, the central state has also established a national cryptocurrency reserve following in the footsteps of countries including El Salvador and the United States.
Not surprisingly, the national cryptocurrency reserve includes Binance Coin (BNB), the exchange’s native token, and the fifth-largest cryptocurrency, with a market capitalization of $155.86 billion. Other positive outcomes of Binance’s partnership with Kyrgyzstan include the launch of Binance Academy programs in top 10 universities across the country, which aim to advance knowledge of blockchain technology and encourage Web3 innovation among students.
Additionally, the Binance app is fully translated in Kyrgyz, making it accessible to local users in their native language. To increase adoption and community engagement, Binance also hosted a large-scale meetup in Bishkek, attracting over 1,000 participants, one of the largest cryptocurrency gatherings ever held in the country.
The success of Binance’s partnership with Kyrgyzstan adds to Changpeng Zhao’s long list of contributions to promoting cryptocurrency adoption around the world. It is worth noting that Zhao recently received a presidential pardon from US President Donald Trump after he was accused of failing to implement anti-money laundering protocols on the Binance platform by the Biden administration.
At press time, BNB is valued at $1,118, reflecting a 0.24% gain in the last day. Meanwhile, the prominent altcoin boasts an 11.7% price surge in the past month amid a somewhat turbulent cryptocurrency market.
Featured image from CNN, chart from Tradingview
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