Kyrgyzstan Launches Stablecoin on BNB Chain, Eyes National Digital Currency and Crypto Reserve

Kyrgyzstan has launched a new stablecoin pegged 1:1 to the national currency, the som, marking its latest step toward broader crypto ￰1￱ Takeaways: Kyrgyzstan launched its first national stablecoin, KGST, pegged 1:1 to the som and built on the BNB ￰2￱ Binance CEO CZ attended the launch and confirmed plans for a future national crypto reserve and a CBDC ￰3￱ National Bank will test the digital som in three phases before deciding on a full rollout by ￰4￱ government also confirmed plans to pilot a central bank digital currency (CBDC) and establish a national crypto ￰5￱ Joins Kyrgyz President as Nation Launches BNB Chain-Based Stablecoin KGST The new stablecoin, KGST, operates on the BNB Chain, with BNB itself likely to be part of the future crypto reserve , according to former Binance CEO Changpeng “CZ” ￰6￱ joined Kyrgyz President Sadyr Japarov on Friday during the second meeting of the National Council for the Development of Virtual Assets and Blockchain ￰7￱ has served as a strategic adviser to the country’s crypto committee since ￰8￱ successfully held the second meeting of the National Council for the Development of Virtual Assets and Blockchain ￰9￱ the meeting, key tasks for the near future were ￰10￱ the event, there was an opportunity to discuss, in an informal setting,… ￰11￱ — Sadyr Zhaparov (@sadyrzhaparovkg) October 24, 2025 Local outlet KG24 reported that Kyrgyzstan’s crypto committee has been tasked with ensuring KGST’s listing on international exchanges and submitting concrete proposals for a national crypto reserve within two ￰12￱ move is part of a larger effort to leverage blockchain and digital assets to modernize the financial system, attract foreign investment, and promote transparency in government and banking ￰13￱ National Bank of the Kyrgyz Republic confirmed it will conduct a three-phase pilot of the digital som, building on its earlier demo with Build Block ￰14￱ pilot will begin by linking commercial banks for interbank transfers, followed by integration with the Central Treasury for government and social ￰15￱ final stage will test offline and low-connectivity transactions before a national rollout.

“After successfully piloting all three phases, the platform will be rolled out nationally and scaled,” the central bank ￰16￱ from Kyrgyzstan – The National Stablecoin launched, on @BNBChain – The CBDC is ready for rollout. Yes, ￰17￱ will be used for gov related payments, etc – The National Cryptocurrency Reserve set up, #BNB included – LE training – Binance Academy with 10 top… ￰0￱ ￰18￱ — CZ BNB (@cz_binance) October 25, 2025 Despite its progress, the bank reiterated that it will decide whether to issue a CBDC only after completing evaluations by ￰19￱ than 100 countries are currently exploring CBDCs, but only three, the Bahamas’ Sand Dollar, Nigeria’s e-Naira, and Jamaica’s JAM-DEX, are live, according to ￰20￱ on Education and Innovation President Japarov also directed the Ministry of Science and Higher Education to develop digital financial literacy programs and train blockchain and AI ￰21￱ announced that Binance Academy will partner with 10 leading Kyrgyz universities and fully localize the Binance app in the ￰22￱ announcement came days after Donald Trump pardoned CZ, who had faced charges related to anti-money laundering violations during his time as Binance ￰23￱ pleaded guilty to money laundering violations at the crypto exchange back in ￰24￱ agreed to pay over $4 billion in forfeiture, while Zhao was ordered to pay $50 million in fines in order to resolve the landmark crypto ￰25￱ Binance founder also agreed to step down from his role as Binance CEO, though this week’s presidential pardon may open the doors for him to return to the position.