Catenaa, Monday, October 27, 2025-Kyrgyzstan announced the launch of a national stablecoin and plans to pilot a central bank digital currency (CBDC) with guidance from Binance founder Changpeng Zhao.
Reports said that KGST would be pegged 1:1 to its Som currency,
President Sadyr Japarov said the KGST stablecoin would support international settlements without double conversion and will eventually integrate with the digital som to enhance cross-border usability.
Zhao signed an agreement in April with the National Investment Agency to collaborate on cryptocurrency and blockchain initiatives in the country.
The National Council for the Development of Virtual Assets and Blockchain Technologies approved the rollout of KGST and instructed the economy ministry to update legislation for digital assets.
The central bank will pilot the digital som in three stages: connecting with commercial banks for transfers, linking the Central Treasury for government payments, and testing offline or low-connectivity transactions.
Kyrgyzstan is also exploring the creation of a national cryptocurrency reserve, which will include BNB tokens, Zhao said.
Farkhat Iminov, head of the crypto council, reported that $10 billion in crypto exchange volume was processed in the first half of 2025, a 47% increase over 2024.
Officials said the combined rollout of KGST and the digital som will expand opportunities for cross-border payments and remittances, while strengthening the country’s digital financial infrastructure.
