Hangpeng Zhao (CZ), CEO of Binance, actively participated in the launch of the Kyrgyz national stablecoin (KGST), built on the BNB Chain. This digital currency is backed by the Kyrgyzstani som (KGS), the country’s official currency, meaning its value is pegged 1:1 to the som to ensure stability and confidence in its use.
According to CZ’s announcements on However, it is important to highlight that Kyrgyzstan is not the first country to issue a national stablecoin. For example, in February 2025, Russia launched the A7A5 stablecoin, backed by the ruble, against a backdrop of international sanctions.
Furthermore, in May 2025, Kyrgyzstan presented the USDKG stablecoin, backed by gold reserves, with the aim of facilitating international trade, as reported by NoticiasVE.
On the other hand, during his recent visit To Kyrgyzstan, CZ led several strategic actions: promoted Binance Academy educational programs in ten universities, coordinated the localization of the Binance application into the Kyrgyz language, and participated in a meeting in Bishkek with more than 1,000 attendees.
He also held high-level meetings with local authorities to align the implementation of the stablecoin, the CBDC and the national reserve, reinforcing Binance’s role as a technical and strategic advisor to the government.
CZ’s participation occurs in a context where Kyrgyzstan is positioned as a regional leader in the adoption of cryptocurrencies, occupying the 19th place Global in Chainalysis Cryptocurrency Adoption Index 2025.