In August, the KGST stablecoin, pegged to the som, emerged as one of the top three most traded tokens among new users on Binance in Kyrgyzstan. The exchange shared these findings on September 5 during a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies.

Kirill Khomyakov, the regional head of Binance, presented the report, noting that KGST has become a preferred digital asset for newcomers to the platform in the country.

Kirill Khomyakov, Regional Head of Binance for Central and Eastern Europe, Central Asia, and Africa. Photo: Website of the President of the Kyrgyz Republic.

Binance became the first centralized exchange (CEX) to launch trading of Kyrgyzstan's national stablecoin in December 2025.

The exchange has implemented smart contracts for the token across three blockchains, conducted audits, and supports on-chain operations for minting and burning. Trading pairs KGST/USDT and KGST/U enjoy zero trading fees.

"KGST already possesses the necessary technological infrastructure, liquidity, users, and real-world use cases. We see potential for its continued growth as a component 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 we will continue to participate in such projects across the region," Khomyakov stated.

The second focus of the report was on financial literacy. According to Binance's calculations, their educational initiatives in Kyrgyzstan have reached over 10,000 students and users.

The university tour included 20 events and attracted 5,000 participants. The Binance Student League has 1,000 members, while the online course "Cryptocurrency from A to Z" in collaboration with the Kyrgyz IT academy Geeks Academy drew 500 attendees.

Since the beginning of the year, materials from Binance Academy have garnered 38,000 views and 5,000 unique readers. The "Learn and Earn" format was viewed 75,000 times, with 2,700 individuals starting the learning process. The platform has published 200 articles in Kyrgyz.

"Sustainable development of the industry is impossible without people who understand how digital assets and new financial technologies work. Therefore, education remains one of our top priorities in Kyrgyzstan. As the market evolves, the country will need specialists in blockchain, cybersecurity, compliance, and digital finance, and we are ready to continue investing in the development of these competencies," Khomyakov emphasized.

By the end of the year, Binance plans to integrate a financial literacy course into the "Mega" platform, which has over 2 million users. The university tour and Student League will continue their activities.

Binance Founder Changpeng Zhao. Photo: Website of the President of the Kyrgyz Republic.

Following the meeting, Kyrgyz President Sadyr Japarov assigned tasks to various agencies. The National Bank is expected to develop a foundational digital som platform and test it by December 31, 2026. Real-world testing will commence in 2027.

The National Agency for Virtual Assets and Blockchain Technologies has been tasked with adopting a package of regulatory acts within three months and working on amendments to the law "On Virtual Assets." A pilot digital platform for licensing and oversight is set to launch on January 1, 2027.

As a reminder, on September 4, Binance signed three memorandums in Astana with state and financial institutions of Kazakhstan. These documents pertain to the issuance of a stablecoin, payment development, and tax residency for investors.