Binance Lists KGST, a Stablecoin Pegged to Kyrgyzstan's Fiat Currency, on the Spot Market

Source
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.
Photo = Shutterstock
Photo = Shutterstock

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

Minseung Kang

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
hot_people_entry_banner in news detail bottom articleshot_people_entry_banner in news detail mobile bottom articles
What did you think of the article you just read?




PiCK News

Trending News