ChainCatcher news, Kyrgyzstan’s President Sadyr Japarov stated that the stablecoin KGST, pegged to the national fiat currency “Som (som),” has officially launched on Binance, marking another key advancement in the country’s national-level crypto infrastructure development.
Sadyr posted that the launch of KGST will help develop cross-border payments and further deepen Kyrgyzstan’s connection with the global crypto ecosystem. CZ later responded, saying that “more state-backed stablecoins” will be launched on Binance in the future. In April this year, CZ began providing technical and policy advisory services to the Kyrgyzstan government. This landlocked Central Asian country with a population of about 7 million has shown a clear shift towards a positive stance on digital assets over the past year. In September, Kyrgyzstan advanced legislation to establish a national-level crypto reserve and expand its domestic digital asset industry. In addition to KGST, Kyrgyzstan recently also launched the dollar stablecoin USDKG, which is backed by physical gold, initially issued on the Tron network with an initial supply of 50 million tokens, and plans to expand to Ethereum in the future.
