According to ChainCatcher, Kyrgyz President Sadyr Japarov announced that KGST, a stablecoin pegged to the Kyrgyz som, has been officially listed on Binance, marking another key step forward in the country's national-level crypto infrastructure development.
Sadyr stated that the launch of KGST will facilitate the development of cross-border payments and further deepen Kyrgyzstan's connection with the global crypto ecosystem. CZ subsequently responded that "more country-backed stablecoins" will be listed on Binance in the future. In April of this year, CZ began providing technical and policy advice to the Kyrgyz government. This landlocked Central Asian country with a population of approximately 7 million has shown a significantly more positive attitude towards digital assets in 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 launched the USDKG stablecoin, 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.
