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#Binance Lists Kyrgyzstan Som-Pegged #Stablecoin
Kyrgyzstan's som-denominated stablecoin KGST is now available for #trading on Binance, President Sadyr Japarov announced Wednesday. The listing advances the nation's #digitalasset strategy following recent regulatory developments and the introduction of a gold-backed dollar token.
The som-pegged digital currency will facilitate international payment flows and expand Kyrgyzstan's connections within the cryptocurrency sector, Japarov stated. Binance CEO Changpeng Zhao indicated additional nation-backed tokens would join the platform's offerings.
Zhao entered an advisory arrangement with Kyrgyzstan in April to deliver technical guidance and strategic consultation to the country of approximately 7 million residents. The collaboration has accelerated digital asset initiatives across the landlocked central Asian nation.
Legislative measures approved in September established frameworks for a state cryptocurrency reserve and broader digital asset industry expansion. Kyrgyzstan separately introduced USDKG, a dollar-pegged token backed by physical gold reserves, launching on Tron with 50 million initial units and Ethereum integration planned.
