The national stablecoin and digital som will be used for government payments
Changpeng Zhao, the founder and former CEO of the cryptocurrency exchange Binance, announced the launch of a national stablecoin and digital som in Kyrgyzstan.
He emphasized that the digital currency, developed by the central bank, is ready for implementation and will be used for transactions with government institutions.
A National Cryptocurrency Reserve has also been established, training for law enforcement personnel has been conducted, and the Binance Academy program has been launched in collaboration with ten leading universities. Additionally, the Binance app has been adapted for the Kyrgyz language, and a large meetup was held in Bishkek.
Zhao added that Binance played a significant role in the entry of the EthSign project into the Kyrgyz market, which will focus on the implementation of digital signatures based on blockchain technologies.
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