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.You may find it interesting at FinanceMagnates.com: Binance Advising Multiple Governments on Bitcoin Policy, CEO Says.MoU Targets Blockchain Skills and LiteracyThe collaboration also includes a focus on digital education. Binance Academy will support the development of training programs aimed at boosting digital finance knowledge among the general public, financial institutions, and government agencies.The education effort is expected to help local entrepreneurs working in blockchain and Web3 technologies. According to Iminov, the goal is to create a framework that supports digital asset development, enhances financial literacy, and facilitates modern payment systems.Binance has signed similar agreements in other regions. This latest move highlights its ongoing interest in Central Asia’s digital infrastructure and regulatory progress. This article was written by Tareq Sikder at www.financemagnates.com.
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.
You may find it interesting at FinanceMagnates.com: Binance Advising Multiple Governments on Bitcoin Policy, CEO Says.
MoU Targets Blockchain Skills and Literacy
The collaboration also includes a focus on digital education. Binance Academy will support the development of training programs aimed at boosting digital finance knowledge among the general public, financial institutions, and government agencies.
The education effort is expected to help local entrepreneurs working in blockchain and Web3 technologies. According to Iminov, the goal is to create a framework that supports digital asset development, enhances financial literacy, and facilitates modern payment systems.
Binance has signed similar agreements in other regions. This latest move highlights its ongoing interest in Central Asia’s digital infrastructure and regulatory progress. This article was written by Tareq Sikder at www.financemagnates.com.
