Binance launches the Kyrgyz Som stablecoin as the country accelerates its national-level cryptocurrency strategy

The President of Kyrgyzstan, Sadyr Japarov, stated that the stablecoin pegged to the national currency "som" (KGST) has officially launched on Binance, marking another key advancement in the country's national-level cryptocurrency infrastructure development.

Sadyr mentioned that the launch of KGST will help develop cross-border payments and further deepen Kyrgyzstan's connection with the global crypto ecosystem. CZ subsequently responded that "more country-backed stablecoins" will be listed on Binance in the future. In April of this year, CZ began providing technical and policy consulting to the Kyrgyz government. This landlocked country in Central Asia, with a population of about 7 million, has shown a significant shift towards a positive attitude towards digital assets in the past year. In September, Kyrgyzstan promoted legislation to establish a national-level crypto reserve and expand its domestic digital asset industry. In addition to KGST, Kyrgyzstan has recently launched the USD stablecoin (USDKG), which is backed by physical gold, initially issued on the Tron network with an initial supply of 50 million tokens, and plans to expand to Ethereum in the future.