Kyrgyzstan Launches KGST Stablecoin on BNB Chain, Begins CBDC Pilot
Kyrgyzstan launched the KGST stablecoin, pegged 1:1 to the som, on BNB Chain on October 25, 2025. It is issued by the National Bank and registered in the State Register of Digital Assets.
President Sadyr Japarov announced the launch after a National Council meeting. The crypto committee plans to list KGST on global exchanges.
CBDC Pilot Underway
The National Bank started a three-phase pilot for a digital som Central Bank Digital Currency (CBDC).
Phase one involves commercial banks for transfers.
Phase two will connect the Central Treasury for payment processing.
Phase three will test offline usage.
An evaluation in 2026 will decide on nationwide adoption.
Crypto Reserve Established
Kyrgyzstan set up a national cryptocurrency reserve that includes BNB.
Proposals for the reserve’s structure are expected within two months.
Binance co-founder Changpeng Zhao confirmed his advisory role and BNB’s inclusion.
The reserve aims for financial stability and asset diversification, leveraging $10 billion in crypto volume from H1 2025.
Binance Partnership Expands
Binance signed an MoU for facilitating crypto payments and localized its app for Kyrgyz users.
It partnered with 10 universities via Binance Academy to enhance educational outreach.
Zhao's involvement in the council reinforces strategic alliances.
Kyrgyzstan's crypto exchange volume grew 47% from 2024, indicating progress towards digital finance leadership.
