Binance has entered into a strategic partnership with the Kyrgyz Republic to introduce cryptocurrency payment solutions and blockchain education programs, marking a significant step in the nation’s digital asset development.
The collaboration was formalized through a memorandum of understanding (MoU) signed with Kyrgyzstan’s National Agency for Investments during the inaugural meeting of the Council for the Development of Digital Assets, attended by President Sadyr Japarov.
As part of the agreement, Binance will deploy its Binance Pay platform in Kyrgyzstan, facilitating crypto-based transactions for both residents and visitors. Additionally, Binance Academy will collaborate with government agencies and financial institutions to develop blockchain-focused educational programs, aiming to enhance digital literacy and foster innovation in the sector.
Kyrylo Khomiakov, Binance’s regional head for Central and Eastern Europe, emphasized the company’s commitment to contributing to the development of Kyrgyzstan’s digital asset sector. He stated that Binance will play an advisory role in shaping digital asset regulations to promote crypto adoption in the country.
This initiative aligns with Kyrgyzstan’s broader digital strategy, which includes the recent signing of a constitutional law by President Japarov authorizing the launch of a central bank digital currency (CBDC) pilot project, granting the “digital som” legal tender status.
Kyrgyzstan’s abundant hydroelectric resources have also made it an attractive location for cryptocurrency mining, with over 30% of the country’s energy supply derived from hydroelectric power plants.
Binance’s partnership with Kyrgyzstan reflects its ongoing efforts to collaborate with governments worldwide, aiming to strengthen its global presence and influence in the cryptocurrency sector.
