Kyrgyzstan is developing its crypto strategy with a new stablecoin.

Kyrgyzstan's New Stablecoin Initiative

Kyrgyzstan is advancing its national cryptocurrency strategy by launching a new stablecoin called KGST, which is pegged to the Som at a 1:1 ratio. This move is being undertaken alongside the previously planned USDKG, a dollar-based stablecoin.

Digital Som and New Pilot Projects

The country has legally recognized the digital currency known as digital som. Kyrgyzstan plans to bring government-related payments to the pilot application stage with this digital currency.

Development in Crypto Infrastructure

Kyrgyzstan is working on creating a national cryptocurrency reserve to develop a comprehensive crypto infrastructure. Additionally, it is collaborating with Binance Academy for university programs and forming partnerships for smart contract development.