Kyrgyzstan has launched its first stablecoin, KGST, pegged 1:1 to the national som, President Sadyr Japarov announced. The rollout follows continued collaboration with Binance founder Changpeng Zhao, who earlier signed a development agreement with Kyrgyz authorities.
The KGST launch comes after the nation’s National Council for the Development of Virtual Assets held its second meeting to accelerate blockchain innovation. Kyrgyzstan is also exploring a central bank digital currency (CBDC) in partnership with Zhao’s advisory team, signaling the nation’s ambition to become a regional hub for digital finance.
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