In August, the KGST stablecoin, pegged to the Kyrgyz som, became one of the top three most traded tokens among new Binance users in Kyrgyzstan. The exchange presented its results in the country on September 5 at a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies.
The report was delivered by Kirill Khomyakov, Binance’s regional head. According to him, KGST is one of the first digital assets chosen by new users of the platform in the republic.
In December 2025, Binance became the first among centralized exchanges to launch trading of Kyrgyzstan’s national stablecoin.
The exchange deployed the token’s smart contracts on three blockchains, conducted an audit, and supports on-chain issuance and burning operations. Trading pairs KGST/USDT and KGST/U have zero trading fees.
“Today, KGST already has the necessary technological infrastructure, liquidity, users, and real-world use cases. We see its potential for further development as part of Kyrgyzstan’s digital financial infrastructure—a tool that can connect the national currency, local financial system, and global digital asset infrastructure. We believe every country should have its own stablecoin and will continue to participate in such projects across the region,” Khomyakov noted.
The second focus of the report was financial literacy. According to the exchange, Binance’s educational initiatives in Kyrgyzstan have reached over 10,000 students and users.
The university tour included 20 events and gathered 5,000 participants. The Binance Student League has 1,000 members, and the online course “Cryptocurrency from A to Z” with the Kyrgyz IT academy Geeks Academy attracted 500 attendees.
Since the beginning of the year, Binance Academy materials have garnered 38,000 views and 5,000 unique readers. The “Learn and Earn” format was viewed 75,000 times, with 2,700 people starting the training. The platform published 200 articles in Kyrgyz.
“Sustainable industry development is impossible without people who understand how digital assets and new financial technologies work. Therefore, education remains one of our main priorities in Kyrgyzstan. As the market develops, the country will need specialists in blockchain, cybersecurity, compliance, and digital finance, and we are ready to continue investing in developing these competencies,” Khomyakov emphasized.
By the end of the year, the exchange plans to integrate a financial literacy course into the “Mega” platform, which has an audience of over 2 million users. The university tour and Student League will continue.
Following the meeting, Kyrgyzstan’s President Sadyr Japarov set tasks for the agencies. The National Bank is to develop a basic platform for the digital som and test it by December 31, 2026. Testing in real conditions will begin in 2027.
The National Agency for Virtual Assets and Blockchain Technologies is tasked with adopting a package of by-laws and working on amendments to the “On Virtual Assets” law within three months. A pilot digital platform for licensing and supervision will launch on January 1, 2027.
Earlier, on September 4, Binance signed three memorandums in Astana with state and financial institutions in Kazakhstan. The documents pertain to stablecoin issuance, payment development, and investor tax residency.
