Binance has listed Kyrgyzstan’s newly launched KGST stablecoin, marking another step in the country’s expanding digital asset strategy.
Kyrgyzstan President Sadyr Japarov confirmed the listing in a social media post, describing the move as a boost for the national crypto ecosystem.
The KGST stablecoin is pegged to the Kyrgyz som and is designed to support cross-border payments and financial connectivity.
Japarov said the listing would help integrate Kyrgyzstan more deeply into global digital finance networks.
Binance chief executive Changpeng “CZ” Zhao said the exchange expects to list “many more” nation-backed stablecoins in the future.
Zhao has been advising Kyrgyzstan since April under an agreement to provide technical expertise and consulting services.
Kyrgyzstan, a landlocked Central Asian nation with a population of about seven million, has taken an increasingly pro-crypto stance in recent years.
In September, lawmakers advanced legislation aimed at creating a state-backed crypto reserve and expanding the domestic digital asset industry.
The government has framed these efforts as part of a broader push to modernise the financial system.
Kyrgyzstan has also launched USDKG, a US dollar–pegged stablecoin backed by physical gold reserves.
USDKG was issued on the Tron network with an initial supply of 50 million tokens.
Officials have said there are plans to expand the token’s issuance to the Ethereum blockchain.
While dollar-pegged stablecoins dominate global market capitalisation, more countries are exploring local currency-backed alternatives.
Tether and Circle continue to account for the majority of stablecoin value worldwide, reflecting the dominance of US dollar-linked tokens.
In October, Tokyo-based fintech firm JPYC launched Japan’s first yen-pegged stablecoin alongside a dedicated issuance platform.
The JPYC token is backed by bank deposits and Japanese government bonds to maintain parity with the yen.
In December, SBI Holdings and Startale Group signed an agreement to develop a regulated yen-denominated stablecoin.
That project is expected to launch in the second quarter of 2026 through Shinsei Trust & Banking.
A consortium of 10 European banks has also announced plans to issue a euro-pegged stablecoin in the second half of 2026.
BNP Paribas said the euro token would be issued under Dutch Central Bank authorisation and comply with EU crypto rules.
In the Middle East, UAE telecom group e& signed an agreement to explore using a dirham-pegged stablecoin for consumer payments.
The initiative aligns with the United Arab Emirates’ push towards regulated digital finance.
Global stablecoin market capitalisation stood at about $308.9 billion as of Wednesday, according to industry data.
At the time of reporting, TRON price was $0.2801.