Kyrgyzstan launches stablecoin on BNB Chain, confirms future CBDC rollout

Kyrgyzstan has introduced a new stablecoin, KGST, pegged 1:1 to the Kyrgyzstani som, and has confirmed its plans to launch a central bank digital currency (CBDC) alongside a digital asset reserve. The KGST will operate on the BNB Chain, with former Binance CEO Changpeng 'CZ' Zhao present during the announcement, emphasizing the significance of crypto adoption at the state level. The country aims for the KGST stablecoin to be listed on international platforms while formulating proposals for a national crypto reserve within two months. Kyrgyzstan's initiative includes a three-phase rollout of the digital som, connecting commercial banks, integrating the Central Treasury for payments, and testing offline transactions before national deployment. The National Bank plans to ensure the pilot tests are completed by late 2026. Additionally, President Japarov has instructed the Ministry of Science and Higher Education to enhance digital financial literacy and collaborate with Binance Academy for educational initiatives across local universities.

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