CZ denies he’s behind a proposal for a crypto private bank in Kyrgyzstan

Kyrgyzstan President Sadyr Japarov claims that Changpeng “CZ” Zhao proposed establishing a private bank that also deals in cryptocurrency.

Binance co-founder Changpeng “CZ” Zhao has pushed back on reports that he has been driving a proposal to establish a crypto-friendly private bank in the Central Asian nation of Kyrgyzstan, where he provides advisory services.

The rumors emerged after Kyrgyzstan President Sadyr Japarov told the Kabar news agency on Sunday that CZ had visited the country in May and suggested a cooperative effort to establish a private bank that also deals in cryptocurrency.

Japarov claims he would have preferred to open a state-owned bank, but when CZ rejected the idea, “we agreed to open a private bank,” instead, which resulted in Bereket Bank. 

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