Kyrgyzstan has confirmed plans to issue a central bank digital currency and explore digital asset reserves, while unveiling a new stablecoin pegged 1:1 to the Kyrgyzstan Som.
According to former Binance CEO Changpeng “CZ” Chao, who attended the second meeting of the National Council for the Development of Crypto Assets and Blockchain Technology with President Sadyr Japarov on Friday, the KGST stablecoin will operate on the BNB chain, and once launched, BNB (BNB) will be included in the crypto reserves.
The first meeting took place around April, when CZ was appointed as strategic advisor to Kyrgyzstan’s cryptographic committee.
Local media KG24 said that Kyrgyzstan’s Crypto Commission must ensure that the KGST stablecoin is listed on international platforms and submit a proposal for the creation of a national cryptocurrency reserve within two months.
Kyrgyzstan’s latest move highlights how cryptocurrency adoption is progressing at the national level, experimenting with stablecoins and CBDCs to modernize payments, improve financial inclusion, increase transparency and attract investment.
Japarov also advised the Ministry of Economy and Commerce to continue developing the legal framework for virtual assets and to launch a pilot test of DigitalSOM with the Kyrgyzstan National Bank.
Kyrgyzstan moves forward with CBDC plan
The pilot will be executed in three phases and builds on the national bank’s demonstration of a digital SOM platform built with Build Block TECH. It will first connect commercial banks to enable remittances, then central treasuries for social and government payments, and finally test low-connectivity transactions offline ahead of a nationwide rollout.
“After successful pilots in all three phases, the platform will be rolled out and scaled up nationwide,” said Kyrgyzstan’s top bank.
The national bank initially said in April that it would not decide whether to issue a CBDC until the end of 2026.
Related: President Trump pardons CZ: “What he did was not even a crime,” they say
According to data from cbdctracker.org, more than 100 countries have launched CBDC projects, but only three are currently active: Bahamas Sand Dollar, Nigeria’s e-Naira, and Jamaica’s JAM-DEX.
Education is also a focus for Kyrgyzstan
Meanwhile, Japarov also advised the Ministry of Science, Higher Education and Innovation to develop a digital financial literacy plan and submit proposals on how it intends to train professionals in the blockchain and AI industry.
Kyrgyzstan plans to integrate Binance Academy, Binance’s education arm, with 10 top universities and “fully localize” the Binance app across South Asia, CZ said.
Latest information from Kyrgyzstan🇰🇬
– National Stablecoin has been launched. @BNBChain
– CBDC is ready for deployment. Yes, both. CBDC is used for government-related payments, etc.
– Establishment of the National Cryptocurrency Reserve, #BNB Contains
-LE training
– Top 10 Binance Academy pic.twitter.com/SInh5aCPMZ— CZ 🔶 BNB (@cz_binance) October 25, 2025
This comes after CZ was pardoned by US President Donald Trump on Wednesday for anti-money laundering violations during his tenure as CEO of Binance.
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