Kyrgyzstan launches stablecoin on BNB Chain, confirms future CBDC rollout

A stablecoin is now live in Kyrgyzstan, which confirmed plans to launch a CBDC and explore a national crypto reserve after meeting with strategic adviser Changpeng Zhao.

Kyrgyzstan has rolled out a new stablecoin pegged 1:1 to the Kyrgyzstani som, while confirming plans to issue a central bank digital currency and explore a digital asset reserve.

The KGST stablecoin will run 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 National Council for the Development of Virtual Assets and Blockchain Technologies’ second meeting on Friday with President Sadyr Japarov.

The first meeting took place around April, when CZ became a strategic adviser for Kyrgyzstan’s crypto committee.

Read more