Kyrgyz Som-Backed Stablecoin KGST Now Live on Binance, President Confirms

Summary: Kyrgyzstan's President Sadyr Japarov announced the launch of the KGST stablecoin, linked to the Kyrgyz som and now listed on Binance. This achievement marks a significant milestone, as KGST becomes the first stablecoin from the Commonwealth of Independent States (CIS) available on a major global exchange.

Key Takeaways

The KGST stablecoin, tied to the Kyrgyz som, has launched on Binance.
This listing is notable as it is the first stablecoin from the CIS on a global crypto exchange.
President Japarov highlighted KGST's role in enhancing Kyrgyzstan's international payments and crypto engagement.
Binance's founder, Changpeng Zhao, indicated more nation-backed stablecoins could be coming soon.
Kyrgyzstan also launched a USD-pegged stablecoin backed by gold, known as USDKG.

Kyrgyzstan Stablecoin Binance

KGST Stablecoin Launch and Its Significance

On Wednesday, Kyrgyzstan's President Sadyr Japarov confirmed that the KGST stablecoin, which is backed by the national currency, the kyrgyz som, has officially been listed on the Binance exchange. The KGST was developed and deployed on the BNB Chain, a platform known for its scalable and economical blockchain infrastructure.

In his message on X, President Japarov expressed his congratulations to the KGSToken development team and all participants involved in this project. He emphasized that the KGST has become the first stablecoin from the Commonwealth of Independent States (CIS) to be featured on a global crypto exchange platform. This new stablecoin is expected to enhance Kyrgyzstan's capabilities in cross-border payments and strengthen its presence in the international crypto market.

Binance CEO Shares Insights on Future Stablecoins

In a response to President Japarov's announcement, Changpeng Zhao, also known as CZ, the founder of Binance, commented that the platform would be listing “many more” nation-backed stablecoins in the future. Zhao mentioned a gold bar he brought up during a debate on Bitcoin versus gold, noting that it originated from Kyrgyzstan.

CZ has been providing advisory services to Kyrgyzstan on crypto and blockchain advancements since April, assisting with technological support, technical expertise, and consulting services. He is also involved in educational initiatives to foster growth in the cryptocurrency sector.

Kyrgyzstan has seen impressive growth in its crypto industry, with over 126 licensed crypto firms operating in the country as of late 2025. These companies have collectively achieved a turnover of $4.2 billion, setting a new record for the nation's crypto market. Furthermore, a Statista report projects that the number of crypto users in Kyrgyzstan will reach approximately 484.06k by 2026.

Additional Stablecoin Developments in Kyrgyzstan

In a broader move towards digital currencies, Kyrgyzstan has also launched a USD-pegged stablecoin backed by physical gold, named USDKG. This token was initially deployed on the Tron network, with an initial issuance of 50 million units. There are plans to expand USDKG to the Ethereum blockchain in the future.

During a separate announcement at the Kyrgyz Parliament, Cabinet Chairman Adylbek Kasymaliev confirmed that the first issuance of the USDKG stablecoin has been successfully completed, releasing a total of 50 million tokens, according to the Kyrgyz National News Agency Kabar. Additionally, Kasymaliev shared that the development of KGST is progressing well, and the government has plans to pilot a central bank digital currency (CBDC) alongside establishing a national crypto reserve.