Binance, one of the leading crypto exchanges, has officially partnered with the National Agency for Investments of Kyrgyzstan to promote crypto payments and launch blockchain education in the country. In a memorandum of understanding (MoU), both parties agreed to introduce crypto payments through Binance Pay.
A part of a blog posted on Binance read that the collaboration highlights a significant move toward building a sustainable and innovative crypto ecosystem in Central Asia. Binance and the National Agency for Investments signed the MoU in the presence of President Sadyr Nurgozhoevich Japarov during the first meeting of the Council for the Development of Digital Assets.
Following the deal, Sultan Dosaliev, the official photographer of the President of the Kyrgyz Republic, posted the president’s statement on X:
“Interest in cryptocurrency in Kyrgyzstan is growing year by year, and blockchain and digital assets, previously an area understood only by specialists, have now become the foundation of a new financial system.”
Президент Садыр Жапаров: «Кыргызстанда криптовалютага болгон кызыгуу жылдан-жылга өсүүдө, ал эми блокчейн жана санариптик активдер мурда адистер гана түшүнгөн тармак болсо, азыр жаңы каржылык системанын негизине айланды» pic.twitter.com/JjI3bycSnJ
Underscoring the introduction of the crypto payment feature, the Binance team said that it will “revolutionize cross-border payments” across the Eurasian Economic Union (EAEU) and Central Asia. They added that it would enable faster and simpler international payments.
Meanwhile, with its expertise in blockchain and crypto knowledge, Binance, along with the National Agency, will design programs to promote “digital finance literacy.”
Binance has been at the forefront of introducing crypto initiatives and blockchain education in several countries. In a similar stage of progress, Binance partnered with several Kazakhstan government organizations to launch a blockchain education program in December 2022. The goal of this partnership is to educate 40,000 people by 2026.
The Kyrgyzstan government has already shown interest in the digital currency adoption, most notably when President Japarov signed a constitutional law to initiate the pilot launch of central bank digital currency (CBDC) on April 18. That said, the latest collaboration with Binance is a new step for the government in assuring financial innovation through digital assets.
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