Changpeng Zhao "Kyrgyzstan to issue a state-owned stablecoin based on the BNB Chain"

Minseung Kang

Summary

The government of Kyrgyzstan said it is pursuing a BNB Chain-based state-owned stablecoin and a CBDC in cooperation with Binance.
The national cryptocurrency holdings include BNB, and the two systems will operate in parallel.
Binance said it is focusing on providing strategic value beyond simple investment.

The government of Kyrgyzstan is working with Binance to pursue a central bank digital currency (CBDC) and a state-owned stablecoin. Binance Coin (BNB) is reportedly included in the composition of the country's crypto holdings.

On the 25th, Binance founder Changpeng Zhao wrote on X (formerly Twitter) that "Kyrgyzstan will issue a state-owned stablecoin based on the BNB Chain, and is also preparing to launch a central bank digital currency (CBDC)." He added that "the CBDC will be used for government-related payments, and the two systems will operate in parallel."

Zhao explained that "a National Cryptocurrency Reserve has been formed and includes BNB," and that "Binance Academy is cooperating with 10 major universities alongside local law enforcement (LE) training." He also said the Binance app has been fully localized into Kyrgyz and that more than 1000 people reportedly attended the meetup held in the capital, Bishkek.

He said, "The collaboration involved e-signature infrastructure startup EthSign, and EasyLabs participated as a minority investor," adding that "Binance is focusing on providing strategic value beyond simple investment."

BNB