Kyrgyzstan Launches Som-Pegged Stablecoin on BNB Chain
New Stablecoin and Digital Asset Strategy
Kyrgyzstan has launched a new stablecoin, KGST, pegged 1:1 to the Kyrgyzstani som, as part of a broader plan to develop digital finance infrastructure and test a central bank digital currency (CBDC). The move follows a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies chaired by President upsetyr Japarov on Friday, attended by former Binance CEO Changpeng “CZ” Zhao.
The stablecoin will operate on the BNB Chain, and Zhao said BNB would be included in the country’s planned crypto reserve. Local outlet KG24 reported that the crypto committee has been instructed to ensure KGST is listed on and to draft a proposal for a national crypto reserve within two months.
Kyrgyzstan’s leadership views the initiative as part of an effort to modernize payments, expand financial access and attract investment into the country’s growing fintech sector. The council, created earlier this year, has been tasked with overviewing blockchain development, and CBDC testing.
Investor Takeaway
Digital Som Pilot Underway
The National Bank of the Kyrgyz Republic will begin a three-phase pilot of the digital som, building on a demo platform developed with local blockchain firm Build Block TECH. The first stage will connect commercial banks for interbank transfers, followed by integration with the Central Treasury for government and social payments. The final stage will test offline and low-connectivity transactions ahead of a nationwide rollout.
“later than successfully piloting all three phases, the platform will be rolled out nationally and scaled,” the National Bank said. The regulator had previously said it would decide by the end of 2026 whether to issue a CBDC. If launched, the digital som would join a small group of live central bank currencies that currently includes the , Nigeria’s e-Naira and Jamaica’s JAM-DEX, according to data from cbdctracker.org.
President Japarov also directed the Ministry of Economy and Commerce to continue drafting the legislative framework for virtual assets and coordinate with the central bank on the CBDC pilot’s implementation.
Education and Technology Partnerships
Digital finance education has been named a policy priority. Japarov instructed the Ministry of Science, Higher Education and Innovation to prepare proposals for national training programs in blockchain, AI and digital asset management. The goal is to create a domestic talent pipeline capable of supporting Kyrgyzstan’s new digital infrastructure.
CZ said that Binance Academy will partner with 10 Kyrgyz universities to offer localized courses and integrate its blockchain curriculum into higher education programs. The Binance app will also be “fully localized” for users in the country, he said. The partnership expands Binance’s education initiatives in Central Asia, following similar collaborations in Kazakhstan and Uzbekistan.
Investor Takeaway
Regional Context and Market Reaction
Kyrgyzstan’s rollout comes as global stablecoin and CBDC projects gain pace. Over 100 countries are studying or developing central bank currencies, though only a handful have moved to full deployment. In Asia, Hong Kong, China and Singapore are testing CBDC pilots, while Kazakhstan and Uzbekistan have begun limited stablecoin trials with private firms.
The timing of the launch coincided with former Binance CEO CZ’s return to public events following a pardon from U.S. President Donald Trump over anti–money laundering violations. His appearance in Bishkek underscored Binance’s continued influence in the region’s policy circles.
On the identical day, BTC rose above $113,000 amid signs of progress in U.S.–China trade talks that lifted risk assets globally. Ether climbed 2.6% to around $4,060, while BNB and Solana gained roughly 4.5% each. The total advanced 1.8% to $3.72 trillion, according to CoinGecko data.
