Kyrgyzstan has launched a new stablecoin pegged 1:1 to the national currency, the som, marking its latest step toward broader crypto adoption.
Key Takeaways:
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Kyrgyzstan launched its first national stablecoin, KGST, pegged 1:1 to the som and built on the BNB Chain.
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Former Binance CEO CZ attended the launch and confirmed plans for a future national crypto reserve and a CBDC pilot.
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The National Bank will test the digital som in three phases before deciding on a full rollout by 2026.
The government also confirmed plans to pilot a central bank digital currency (CBDC) and establish a national crypto reserve.
The new stablecoin, KGST, operates on the BNB Chain, with BNB itself likely to be part of the future crypto…
