Kyrgyzstan has launched a novel stablecoin pegged 1:1 to the Kyrgyzstan, while confirming plans to issue a central bank digital currency and seek a reserve of digital assets.
Stabilcoin KGST will run on the BNB chain and BNB (BNB) will be included in the cryptocurrency reserve if launched, According to to former Binance CEO Changpeng “CZ” Zhao, who on Friday participated in the second meeting of the National Council for the Development of Virtual Assets and Blockchain Technology with President Sadyr Japarov.
The first meeting took place around April, when CZ became a strategic advisor to the Kyrgyz Crypto Committee.
Local media KG24 he said Kyrgyzstan’s cryptocurrency committee must ensure that the KGST stablecoin is listed on international platforms and submit proposals for the creation of a national cryptocurrency reserve within two months.
Kyrgyzstan’s latest moves highlight the advancement of cryptocurrency adoption at the nation-state level through experimentation with stablecoins and CBDCs to modernize payments, improve financial inclusion, raise transparency and attract investment.
Japarov also advised the Ministry of Economy and Trade to continue working on the legal framework for virtual assets, and the National Bank of the Kyrgyz Republic began pilot testing of the digital soma.
Kyrgyzstan continues to implement CBDC plans
The pilot will take place in three stages, based on the presentation of the National Bank of Poland regarding the digital platform built using Build Block TECH. It will first connect commercial banks to enable transfers, then connect the Central Treasury for social and government payments, and finally test offline and low-connectivity transactions before rolling out to the domestic market.
“After successful piloting of all three stages, the platform will be implemented and scaled throughout the country,” Kyrgyzstan’s largest bank announced.
The National Bank initially announced in April that it would make a decision on the issuance of CBDC only by the end of 2026.
Related: Trump on CZ pardon: I was told ‘what he did wasn’t even a crime’
Although over 100 countries have initiated CBDC projects, only three CBDCs are currently operational – Bahamas Sand Dollar, Nigerian e-Naira and Jamaica JAM-DEX, data from cbdctracker.org programs.
Education is also central to Kyrgyzstan
Meanwhile, Japarov also advised the Ministry of Science, Higher Education and Innovation to come up with proposals on how it intends to develop digital financial literacy plans and train specialists in the blockchain and AI industries.
CZ said Kyrgyzstan will integrate Binance’s educational arm, Binance Academy, with top 10 universities and “fully localize” the Binance app across the South Asian country.
News from Kyrgyzstan🇰🇬
– National Stablecoin launched, on @BNBChain
– CBDC is ready for implementation. Yes, both. CBDC will be used for government related payments etc
– Creation of the National Cryptocurrency Reserve, #BNB attached
– LE training
– Binance Academy with Top 10… https://t.co/KPrL0pnsWG pic.twitter.com/SInh5aCPMZ— CZ 🔶 BNB (@cz_binance) October 25, 2025
The ruling came after CZ was pardoned by US President Donald Trump on Wednesday over anti-money laundering violations while serving as Binance’s CEO.
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