Binen’s co-founder Changpeng “CZ” Jhao has proposed bitcoin and BNB as the first digital property to create Kyrgyzstan national crypto reserves.
On May 5, Zhao Shared On X that he advised Kyrgyzstan to start with Bitcoin (BTC) and BNB (BNB) while constructing his National Crypto Reserve. In 2024, Forbes claimed that Zhao has about 94 million BNB tokens, which is about 64% of BNB’s circulating supply. At the time of writing, these tokens are approximately $ 55 billion.
The proposal follows Jhao’s earlier announcement that it started advising Kyrgyzstan’s National Investment Agency (NIA) on blockchain and crypto-related matters.
On 3 April, Zhao confirmed that it was officially and informally advising governments on Crypto Framework and Blockchain solutions. The CEO of the former Binance said that he finds the work very meaningful.
Benance to launch crypto payment in Kyrgyzstan
A month after CZ announced its role in advising Kyrgyzstan, Benance announced a partnership with the country to introduce the Crypto Payment Service.
On 4 May, Binance signed a memorandum of a memorandum (MOU) with the NIA to introduce Binance Salary to the country, enabling Crypto transactions. The aim of the partnership is to promote crypto education in the country, in which Benance Academy has prepared to work with government agencies to develop blockchain-centric educational programs.
Benance also said that the exchange was advising many governments and courts on crypto-related policy. On 17 April, Benance CEO Richard Teng said in an interview with Financial Times that the exchange was advising countries on the Crypto Reserve.
Kyrgyzstan is taking steps to become a digital asset-friendly jurisdiction. On 17 April, Kyrgyzstan president Sadir Jharvov signed a law, authorizing a central bank Digital Currency Pilot Project, giving a legal tender status to the digital form of the national currency.
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Kyrgyzstan allegedly planned a gold -supported stabechoin
Country also reportedly Scheme of To launch gold-supported stabelcoin. Gold-supported stabblecin will be judged in United States dollars and called Gold Dollar (USDKG). This will support $ 500 million in gold provided by the country’s Finance Ministry.
Cointelegraph reached the country’s Finance Ministry to confirm the report, but no response was received before the publication.
https://www.youtube.com/watch?v=Jeg7vspg2GY
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