Kyrgyzstan has taken a major leap into the digital finance era with the launch of its national stablecoin, the KGST, and a pilot project for a digital version of the som. The twin initiatives mark a significant milestone in the country’s ambition to become Central Asia’s leading blockchain innovation centre.
KGST Stablecoin Debuts on BNB Chain
The KGST stablecoin, pegged 1:1 to the Kyrgyzstani som, has gone live on the BNB Chain. It represents one of the first government-backed blockchain initiatives in the region. The move was confirmed by Changpeng Zhao, former Binance CEO and now strategic advisor to the Kyrgyz Crypto Committee, during his recent visit to Bishkek.
Had a great time in Kyrgyzstan in the past two days. I encourage more crypto companies to explore the country too.
— CZ 🔶 BNB (@cz_binance) October 25, 2025
"Binance founder touts crypto as strategic tool for finance and governance in Kyrgyzstan" – AKIpress News Agency https://t.co/ig0pVLG1Zi
President Sadyr Japarov chaired the meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies, where the stablecoin was officially unveiled. The council has also instructed the crypto committee to prepare a proposal for a national crypto reserve that would include BNB and other major digital assets. Officials have two months to draft the plan and begin steps to list KGST on international exchanges.
Digital Som Pilot Underway
Kyrgyzstan’s central bank has also begun testing a central bank digital currency (CBDC) in partnership with local blockchain firm Build Block TECH. The pilot will unfold in three stages:
- Phase 1: Integrate commercial banks for interbank transfers
- Phase 2: Link with the Central Treasury for government and social payments
- Phase 3: Test offline and low-connectivity transactions for rural access
If successful, the digital som could be rolled out nationwide by 2026, joining other global CBDCs such as Nigeria’s e-Naira and Jamaica’s JAM-DEX.
Education and Regulation Drive
President Japarov has also made blockchain education a key national priority. The Ministry of Science, Higher Education and Innovation has been tasked with launching training programmes in partnership with Binance Academy, which will collaborate with ten local universities. The Binance app is also being fully localised for Kyrgyz users.
At the same time, the Ministry of Economy and Commerce is working with the National Bank to draft a new legal framework for virtual assets and support the CBDC rollout.
Binance’s Expanding Role in Kyrgyzstan
Binance continues to play a central role in Kyrgyzstan’s digital shift. The exchange has backed several initiatives, including:
- Localising the Binance App for the Kyrgyz market
- Providing law enforcement training on digital assets
- Supporting blockchain education through Binance Academy
- Hosting a crypto meetup in Bishkek attended by over 1,000 participants
CZ also praised blockchain firm Ethsign and venture investor YZI Labs for their support in driving Kyrgyzstan’s digital transformation.
Elsewhere, the Central Bank of Uzbekistan has confirmed that it will not be including cryptocurrencies in its international reserves for the foreseeable future.
