Kyrgyzstan has launched a new stablecoin pegged 1:1 to the Kyrgyzstani som, confirming plans to issue a central bank digital currency and explore digital asset reserves.
The KGST stablecoin will run on the BNB chain, and BNB (BNB) will be included in the crypto reserve upon launch, according to former Binance CEO Changpeng ‘CZ’ Zhao, who attended the second meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies on Friday with President Sadyr Japarov.
The first meeting took place around April, when CZ became a strategic advisor to Kyrgyzstan’s Crypto Committee.
Local media outlet KG24 said Kyrgyzstan’s crypto committee should ensure that the KGST stablecoin is listed on international platforms and submit a proposal to create a national crypto reserve within two months.
Kyrgyzstan’s latest moves highlight how crypto adoption is being pushed at the nation-state level by experimenting with stablecoins and CBDCs to modernize payments, improve financial inclusion, boost transparency, and attract investment.
Japarov also advised the Ministry of Economy and Commerce to continue preparing a legislative framework for virtual assets and the National Bank of the Kyrgyz Republic to launch a pilot test of the digital som.
Kyrgyzstan moving forward with CBDC plans
Based on National Bank’s demo of a digital Mon platform built with Build Block tech, the pilot will run in three phases. It will first connect commercial banks to enable transfers, then add central treasuries for social and government payments, and finally test offline and low-connectivity transactions before a national rollout.
“After successful operation of all three phases, the platform will be implemented and scaled up at the national level,” Kyrgyzstan’s top bank said.
The National Bank initially said in April that it would not make a decision on issuing a CBDC until the end of 2026.
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While more than 100 countries have launched CBDC projects, only three CBDCs are currently active – Bahamas Sand Dollar, Nigeria’s e-Naira and Jamaica’s JAM-DEX, data from CBDCtracker.org shows.
Education is also a focal point for Kyrgyzstan
Meanwhile, Japarov also advised the Ministry of Science, Higher Education and Innovation to submit proposals on how to develop digital financial literacy plans and train experts in the blockchain and AI industries.
CZ said Kyrgyzstan will integrate Binance Academy, Binance’s education arm, with its 10 top universities and “fully localize” the Binance app across the South Asian country.
Update from Kyrgyzstan🇰🇬
– National stablecoin launched @bnbchain
– CBDC is ready for rollout. Yes both. CBDC will be used for government related payments etc.
– Establishment of a National Cryptocurrency Reserve, #bnb Involved
– LE training
– Binance Academy with 10 top… https://t.co/KPrL0pnsWG pic.twitter.com/SInh5aCPMZ– CZ 🔶 BNB (@cz_binance) 25 October 2025
This comes after US President Donald Trump on Wednesday pardoned CZ over anti-money laundering violations when he served as Binance CEO.
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