Kyrgyzstan Unveils Som Stablecoin, Plans CBDC, Crypto Reserve

Kyrgyzstan has launched a stablecoin that is pegged 1:1 to the Kyrgyzstani som, and has also confirmed plans to create a central bank digital currency (CBDC) and explore a digital asset reserve.

Kyrgyzstan’s stablecoin, KGST, will run on the BNB Chain and if its digital asset strategic reserve is launched BNB would also be included in the reserve, according to former Binance CEO Changpeng Zhao (CZ). 

Updates from Kyrgyzstan🇰🇬
– 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
– LE training
– Binance Academy with 10 top… https://t.co/KPrL0pnsWG pic.twitter.com/SInh5aCPMZ

— CZ 🔶 BNB (@cz_binance) October 25, 2025

CZ, a strategic adviser for the nation’s crypto committee, attended the National Council for the Development of Virtual Assets and Blockchain Technologies’ second meeting on Friday, which was attended by Kyrgyzstan President Sadyr Japarov

Japarov said he had an informal discussion with the former Binance CEO, who he called his “esteemed friend and advisor.” They discussed “issues related to cryptocurrency, stablecoins, tokens, and blockchain technologies in general.” 

Pilot Testing For New Stablecoin Set To Start Soon

According to local media outlet KG24, Kyrgyzstan’s crypto committee must ensure the KGST stablecoin is listed on international platforms and submit proposals for creating the proposed national crypto reserve within the next two months. 

Japarov has advised the Ministry of Economic Commerce to continue working on the legislative framework for digital assets and told the National Bank of the Kyrgyz Republic to start pilot testing of the digital som.

That pilot will consist of three stages, and will build on the platform that was used to demo the digital som. 

The first stage will see the platform connect to commercial banks to enable transfers. The platform will then link to the Central Treasury for social and government payments. The final stage before a national rollout will be to test offline and low-connectivity transactions. 

After successfully piloting all three phases, the platform will be rolled out nationally and scaled. 

Binance Will Integrate Its Academy To Educate Users

Ahead of the planned rollout of a national stablecoin, Japarov also advised the Ministry of Science, Higher Education, and Innovation to submit proposals on how it plans to develop digital financial literacy as well as train specialists in the blockchain and AI industries.

CZ said in his post on X that one of the ways that Kyrgyzstan plans to educate the population is by integrating Binance Academy with its top 10 universities. The Binance app will also be fully localized across the south Asian country, according to the former Binance CEO.

The price of Binance’s native BNB token traded flat following the announcement. Data from CoinMarketCap shows that BNB rose a fraction of a percentage in the past 24 hours to trade at $1,120.48 as of 2:17 a.m. EST. 

BNB price (Source: CoinMarketCap)

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