Binance founder Changpeng Zhao has recommended That Kyrgyzstan regards Bitcoin and BNB as the first assets in building his national crypto reserve.
His suggestion of 5 May followed an invitation to become a member of the National Crypto Council of the country and marked a remarkable step in the country’s involvement in digital assets.
Zhao visited Kyrgyzstan at the invitation of President Sadyr Japarov. The two held discussions by Lake Issyk-Kul for two days, where they investigated the potential of blockchain technology in the economic strategy of the country.
President Japarov said:
“We have presented the potential of Kyrgyzstan in the development of a digital economy and have demonstrated the wealth of our culture and the unique of our national identity by a specially prepared cultural program.”
A day before the announcement of ZHAO, the National Investment Agency of Kyrgyzstan confirmed A new partnership with Binance.
The agreement aims to accelerate the approval of crypto payments and to promote digital financial education in the region.
An important result of the partnership is the rollout of Binance Pay, which makes crypto-based transactions possible in Central Asia and will simplify cross-border transfers with neighboring countries in the Eurasian economic union.
Kyrgyzsten with gold -supported stabilecoin
In parallel development, Coindsk reported That Kyrgyzstan is preparing for launching his gold -supported Stablecoin linked to the US dollar.
The new token, USDKG, is planned for release in the third quarter of 2025. The active would initially be supported by $ 500 million in gold from the Ministry of Finance. However, the reserve is expected to grow up to no less than $ 2 billion.
USDKG will maintain a fixed 1: 1 value with the US dollar, in contrast to golden tokens that follow market prices. This means that the Gold reserves will serve as collateral, which stabilizes token and at the same time ensures liquidity.
In the meantime, officials said USDKG overcollateralizes to manage potential golden price fluctuations.
The token holders will be able to cash it in for physical gold, other cryptocurrencies or Fiat currency, making it suitable for cross-border transactions and long-term storage
