According to Changpeng Zhao, the stablecoin is created on the BNB Chain platform and will be used for government and official financial operations in Kyrgyzstan.
Additionally, he announced the creation of a national cryptocurrency reserve, which includes the BNB token.
Binance is also actively developing educational and technological initiatives in the country. In particular, Binance Academy will begin collaboration with ten universities, and the Binance app is now available in the Kyrgyz language.
Changpeng Zhao also mentioned a partnership with the EthSign platform, which will facilitate the implementation of digital solutions on the blockchain in Kyrgyzstan.
“We are not just aiming for investments, but also for creating strategic value. I am glad that @yzilabs has become a minority investor, and the EthSign team has done an excellent job,” he wrote.
It is important to note that earlier the president instructed to launch the KGST stablecoin and begin testing the digital som. This was discussed at a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies, which was attended by both President Sadyr Japarov and Changpeng Zhao.
