Binance founder Changpeng Zhao (CZ) announced during his visit to Kyrgyzstan that the country has launched its national stablecoin on BNB Chain and is preparing to roll out a central bank digital currency (CBDC) for government payments. This marks a significant step in national blockchain adoption, with the CBDC project ready for implementation.
Kyrgyzstan has established a National Cryptocurrency Reserve that includes BNB, making it the first sovereign crypto reserve to integrate the token. This move was confirmed by CZ at a Binance meetup in Bishkek, which attracted over 1,000 attendees. The announcement has already spurred a surge in BNB's market value, outperforming other major cryptocurrencies like Bitcoin and Ethereum.
In addition to the reserve and digital currency initiatives, Binance has organized training programs for Kyrgyz law enforcement and launched the Binance Academy in partnership with 10 local universities. The Binance app has been fully adapted for the Kyrgyz language, enhancing accessibility.
Farhat Iminov, Secretary General of the Virtual Assets and Blockchain Technologies Development Secretariat under the Kyrgyz Presidency, revealed that the country is preparing a 9-month pilot project for a national blockchain platform. This initiative aims to bolster financial sovereignty and reduce reliance on foreign currencies.
Quote from CZ: "The National Stablecoin launched, on @BNBChain. The CBDC is ready for rollout. Yes, both. CBDC will be used for gov-related payments, etc… The National Cryptocurrency Reserve set up, #BNB included…" This development follows CZ's recent pardon by US President Donald Trump, adding to the news's prominence.
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