Binance, one of the world’s largest cryptocurrency platforms, has announced a strategic partnership with the government of Kyrgyzstan to support the country’s growing interest in blockchain and digital finance.
The deal includes the rollout of crypto payment solutions, education programs, and plans for a national crypto reserve.
Crypto Payments with Binance Pay
As part of the agreement, Binance will introduce its payment tool, Binance Pay, to Kyrgyzstan. This service lets users make fast and secure crypto transactions using digital assets like Bitcoin (BTC) and Binance Coin (BNB). The move could make crypto more accessible in everyday financial activities across the country and support the local economy’s digital transformation.
The partnership also focuses on education. Binance will work with local institutions to provide blockchain training through its Binance Academy platform. These educational initiatives aim to teach young professionals, developers, and entrepreneurs about blockchain technology, smart contracts, and crypto security. The goal is to prepare a skilled workforce that can support the future of Kyrgyzstan’s digital economy.
National Crypto Reserve and Stablecoin Plans
In a bold step toward financial innovation, Kyrgyzstan is also exploring the creation of a national crypto reserve. Binance founder Changpeng Zhao (CZ), who has now joined Kyrgyzstan’s National Crypto Committee, proposed using BNB and BTC to back this reserve. This could help the country diversify its financial holdings and reduce reliance on traditional fiat currencies.
Additionally, Kyrgyzstan is preparing to launch a gold-backed stablecoin named the “Gold Dollar” (USDKG) in the third quarter of the year. Supported by $500 million in physical gold reserves, this stablecoin aims to provide a more secure and stable alternative for digital transactions and savings.