ChainCatcher News: Kyrgyzstan’s President Sadyr Japarov announced that the stablecoin KGST, pegged to the national fiat currency “Som,” has officially launched on Binance, marking another key milestone in the country’s national-level cryptocurrency infrastructure development.
Sadyr stated that the launch of KGST will facilitate the development of cross-border payments and further deepen Kyrgyzstan’s integration into the global crypto ecosystem. CZ later responded that “more state-backed stablecoins” will be listed on Binance in the future. In April of this year, CZ began providing technical and policy advisory services to the Kyrgyz government.
This landlocked Central Asian country, with a population of approximately 7 million, has shown a clear shift toward a positive stance on digital assets over the past year. In September, Kyrgyzstan advanced legislation aimed at establishing a national cryptocurrency reserve and expanding its domestic digital asset industry. In addition to KGST, Kyrgyzstan recently launched the dollar-pegged stablecoin USDKG, which is backed by physical gold. Initially issued on the Tron network with an initial supply of 50 million tokens, it is planned to expand to Ethereum in the future.
