Kyrgyzstan begins the process of creating a National Crypto Reserve based on Bitcoin and BNB. This initiative led by Changpeng Zhao from Binance aims at developing the country's crypto infrastructure.
Changpeng Zhao's Recommendations
According to reports, Changpeng Zhao, co-founder of Binance, recommended using Bitcoin and BNB as the foundation for Kyrgyzstan's planned National Crypto Reserve. These recommendations were shared on social media following his appointment to the National Crypto Committee by President Sadyr Japarov.
Binance and Kyrgyzstan Partnership
Zhao's recommendation coincided with the formal partnership between Binance and Kyrgyzstan. On May 4, the cryptocurrency exchange signed a Memorandum of Understanding with the National Investment Agency. A key aspect of this partnership will be the rollout of Binance Pay in the country, simplifying crypto transactions for locals and tourists.
Gold-Backed Stablecoin Initiative
In addition to the National Crypto Reserve, Kyrgyzstan is preparing to launch a gold-backed stablecoin called Gold Dollar (USDKG) in the third quarter of 2025. This stablecoin will be supported by $500 million in gold, helping maintain its stable value.
Kyrgyzstan marks an important step toward the integration of digital assets through the creation of a National Crypto Reserve, potentially enhancing its attractiveness to investors and entrepreneurs in the cryptocurrency sector.
