Binance Partners with Kyrgyzstan for Crypto Push amid CBDC Progress

Binance has signed a Memorandum of Understanding (MoU) with the National Agency for Investments under the President of the Kyrgyz Republic. The agreement was finalized during the first meeting of the Council for the Development of Digital Assets, which was attended by President Sadyr Japarov. It aims to support the growth of the country’s digital asset sector through long-term cooperation.The partnership comes shortly after Kyrgyzstan took a formal step toward launching a central bank digital currency (CBDC). Last month, President Japarov signed amendments to the constitutional law, granting legal tender status to the digital som. The changes authorize the National Bank of the Kyrgyz Republic to issue the digital currency, set rules for its use, and oversee its platform. Kyrgyz Republic Embraces Binance Pay InitiativeAs part of the MoU, Binance and the agency will work together to expand the Kyrgyz Republic’s digital economy. Farhat Iminov, Head of the National Agency for Investments, said the partnership reflects the agency’s efforts to support digital transformation and economic growth.One of the key initiatives will be the introduction of crypto payment services using Binance Pay. The partners said this could help improve cross-border transactions, not only within Kyrgyzstan but also across Central Asia and the Eurasian Economic Union.Proud to support Kyrgyzstan’s crypto future with @Binance!

May 5, 2025 - 10:48

Binance Partners with Kyrgyzstan for Crypto Push amid CBDC Progress

Binance has signed a Memorandum of Understanding (MoU) with the National Agency for Investments under the President of the Kyrgyz Republic. The agreement was finalized during the first meeting of the Council for the Development of Digital Assets, which was attended by President Sadyr Japarov. It aims to support the growth of the country’s digital asset sector through long-term cooperation.

The partnership comes shortly after Kyrgyzstan took a formal step toward launching a central bank digital currency (CBDC). Last month, President Japarov signed amendments to the constitutional law, granting legal tender status to the digital som. The changes authorize the National Bank of the Kyrgyz Republic to issue the digital currency, set rules for its use, and oversee its platform.

Kyrgyz Republic Embraces Binance Pay Initiative

As part of the MoU, Binance and the agency will work together to expand the Kyrgyz Republic’s digital economy. Farhat Iminov, Head of the National Agency for Investments, said the partnership reflects the agency’s efforts to support digital transformation and economic growth.

One of the key initiatives will be the introduction of crypto payment services using Binance Pay. The partners said this could help improve cross-border transactions, not only within Kyrgyzstan but also across Central Asia and the Eurasian Economic Union.

Proud to support Kyrgyzstan’s crypto future with @Binance!