Kyrgyzstan launched the KGST stablecoin, pegged 1:1 to the Kyrgyzstani som, and placed it on the BNB Chain. The announcement followed a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies with President Sadyr Japarov and Changpeng “CZ” Zhao present. The Kyrgyzstan stablecoin starts as part of a broader plan that also covers a CBDC and a crypto reserve.
Local reports said the crypto committee must push KGST toward international listings. Authorities set a two-month window to submit proposals for a national crypto reserve. The Kyrgyzstan stablecoin thus connects policy, infrastructure, and exchange access.
Furthermore, officials discussed how BNB could be included in the future crypto reserve if it launches. The BNB Chain integration places KGST within a familiar ecosystem for wallets and exchanges. As a result, the Kyrgyzstan stablecoin anchors the country’s early virtual-asset framework.
CBDC Pilot for the Digital Som Progresses in Three Stages
The National Bank of the Kyrgyz Republic outlined a CBDC pilot for a digital som in three stages. First, it will connect commercial banks to enable transfers. Then it will link the Central Treasury for social and government payments. Finally, it will test offline and low-connectivity transactions before any national rollout.
The central bank added,
“After successfully piloting all three phases, the platform will be rolled out nationally and scaled.”
The CBDC pilot uses technology from Build Block TECH. The staged approach keeps the digital som aligned with banking rails and public-sector payment needs.
Earlier statements indicated the National Bank would wait until end-2026 to decide on a CBDC launch. Therefore, the CBDC remains in pilot testing while KGST moves ahead on the BNB Chain. This keeps the digital som and the Kyrgyzstan stablecoin on parallel but distinct tracks.
Crypto Reserve Plan Mentions BNB; Education Track Expands
The crypto reserve proposal will arrive within two months, according to the council’s directive. If approved, the reserve could hold BNB alongside other digital assets. This crypto reserve would sit next to KGST and the CBDC, forming three pillars: Kyrgyzstan stablecoin, digital som, and reserve assets.
Education also features in the plan. President Sadyr Japarov asked the relevant ministries to develop digital financial literacy programs. The request covers training for blockchain and AI specialists. This runs in parallel to the CBDC pilot and the Kyrgyzstan stablecoin rollout.
In addition, CZ said Binance Academy will integrate with 10 universities in Kyrgyzstan and localize the Binance app. These steps target skills and language readiness. They also align with the BNB Chain footprint created by KGST.
Context: CZ Advisory Role and Current Global CBDC Landscape
CZ has served as a strategic adviser to Kyrgyzstan’s crypto committee since the spring. The council’s first meeting occurred around April, while the second meeting took place on Friday with President Sadyr Japarov present. The Kyrgyzstan stablecoin and the CBDC plan both advanced under that advisory timeline.
Globally, more than 100 jurisdictions have explored CBDC projects. However, only three are live: the Bahamas Sand Dollar, Nigeria’s e-Naira, and Jamaica’s JAM-DEX. Against that backdrop, Kyrgyzstan keeps the CBDC in pilot testing, while the Kyrgyzstan stablecoin KGST on the BNB Chain proceeds.
Local outlet KG24 reported the push for international listings and the two-month deadline for the crypto reserve proposal. The emphasis remains on execution steps: KGST live on BNB Chain, CBDC pilot stages for the digital som, and planning for a crypto reserve that could include BNB.
