The country is also planning to create a national cryptocurrency reserve that will include BNB tokens, CZ said on X.
The country has also legally recognized its central bank digital currency (CBDC), the digital som, with plans to pilot government-related payments with it.
Binance founder Changpeng Zhao has recommended that Kyrgyzstan consider Bitcoin and BNB as the first assets in building its National Crypto Reserve. His May 5 suggestion followed an invitation to join the country’s National Crypto Council, marking a notable step in the nation’s engagement with digital assets. Zhao visited Kyrgyzstan at the invitation of President […]
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The stablecoin will be backed by $500 million in gold from the Kyrgyz Ministry of Finance, with plans to expand reserves to $2 billion.
Kyrgyzstan President Sadyr Japarov signed amendments that provide its digital som legal status.
Kyrgyzstan is considered an ideal destination for cryptocurrency miners, due to its untapped renewable energy resources.