Kyrgyzstan has rolled out a new stablecoin pegged 1:1 to the Kyrgyz som, while confirming plans to issue a central bank digital currency and explore a digital asset reserve. reserve.
The KGST stablecoin will operate on the BNB chain, and BNB (BNB) would be included in the crypto reserve if launched, 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 with President Sadyr Japarov on Friday.
The first meeting took place around April, when CZ became a strategic advisor to Kyrgyzstan’s crypto committee.
Source: Sadyr Japarov
Local media outlet KG24 said that Kyrgyzstan’s crypto committee must ensure that the KGST stablecoin is listed on international platforms and submit proposals to create a national crypto reserve within two months.
Kyrgyzstan’s latest initiatives highlight how crypto adoption is advancing at the nation-state level by experimenting with stablecoins and CBDCs to modernize payments, improve financial inclusion, increase transparency and attract investment.
Japarov also advised the Ministry of Economy and Trade to continue developing a legislative framework for virtual assets and the National Bank of the Kyrgyz Republic to begin pilot testing of the digital som.
Kyrgyzstan moves forward with its CBDC plans
The pilot project will take place in three stages, building on the National Bank’s demonstration of the digital som platform built with Build Block TECH. It will first connect commercial banks to enable transfers, then link the central treasury for social and government payments, and finally test offline and low-connectivity transactions before a national rollout.
“After successfully testing all three phases, the platform will be rolled out nationally and on a large scale,” Kyrgyzstan’s largest bank said.
The National Bank initially said in April that it would not make a decision on whether to issue 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: the Bahamas Sand Dollar, Nigeria’s e-Naira and Jamaica’s JAM-DEX, according to data from cbdctracker.org.
Education is also a focal point for Kyrgyzstan
At the same time, Japarov also advised the Ministry of Science, Higher Education and Innovation to submit proposals on how it intends to develop digital financial literacy plans and train specialists in the blockchain and AI sectors.
CZ said Kyrgyzstan would integrate Binance’s educational arm, Binance Academy, with 10 of its top universities and “fully localize” the Binance app in the South Asian country.
Updates from Kyrgyzstan🇰🇬
– Launch of the National Stablecoin, on @BNBChain
-The CBDC is ready for deployment. Yes, both. CBDC will be used for government-related payments and more.
– The National Cryptocurrency Reserve established, #BNB included
-Training
– Binance Academy with 10 best… pic.twitter.com/SInh5aCPMZ– CZ 🔶BNB (@cz_binance) October 25, 2025
This comes as CZ was pardoned by US President Donald Trump on Wednesday for anti-money laundering violations while he was CEO of Binance.
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