Binance Lists KGST, a Stablecoin Pegged to Kyrgyzstan's Fiat Currency, on the Spot Market
Minseung Kang
Summary
- Binance announced it will list the stablecoin KGST, which is pegged to Kyrgyzstan's fiat currency, on the spot market.
- KGST/USDT trading will start at 17:00 on the 24th, and spot algorithmic order services will also be provided.
- KGST is a fully collateralized stablecoin pegged 1:1 to the Kyrgyzstani som, and is focused on improving payment and remittance efficiency.
Global virtual asset (cryptocurrency) exchange Binance will list KGST, a stablecoin pegged to Kyrgyzstan's fiat currency, on the spot market.
According to Binance on the 22nd, KGST/USDT trading will commence on the 24th at 08:00 (UTC; 17:00 KST on the 24th). At the same time, spot algorithmic order (trading bot) services will be supported for the KGST/USDT pair. KGST deposits are already available, and withdrawals will open from 08:00 (UTC) on the 25th.
Meanwhile, KGST is a fully collateralized stablecoin pegged 1:1 to the Kyrgyzstani som (KGS), designed to improve payment and remittance efficiency with a focus on the Central Asia region.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Key Economic & Crypto Calendar for the Week Ahead] US December PCE Price Index, and More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
![[Analysis] "Binance’s XRP holdings fall to a two-year low…a signal of easing sell-side pressure"](https://media.bloomingbit.io/PROD/news/ddf35c9e-c582-4b4d-95b6-0c5b1673198d.webp?w=250)
