The agreement was signed during the inaugural session of the Council for the Development of Digital Assets, attended by President Sadyr Japarov. As part of the deal, Binance Pay will be rolled out in Kyrgyzstan, enabling both locals and tourists to make crypto-based transactions.

Blockchain Education On The Agenda

The partnership also focuses heavily on education. Binance Academy will collaborate with Kyrgyz government institutions and financial entities to design blockchain-related learning initiatives. Kyrylo Khomiakov, Regional Head for Central and Eastern Europe at Binance, stated: “We are thrilled to support the growth of crypto assets in Kyrgyzstan.”

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This move is part of Binance‘s broader strategy to partner with governments globally. As CEO Richard Teng recently revealed, the company is consulting with several governments on building Bitcoin, Ethereum, and other digital asset reserves and regulatory frameworks.

Kyrgyzstan Eyes Digital Som And Crypto Mining

Beyond private partnerships, Kyrgyzstan is taking policy steps towards digitalization. On April 18, President Japarov signed legislation authorizing a CBDC pilot program and giving the “digital som” legal tender status.

Kyrgyzstan also stands out for its crypto mining capabilities. Thanks to abundant hydroelectric resources, the country offers low-cost energy, making it a prime location for crypto miners. Over 30% of Kyrgyzstan’s energy comes from hydropower, though only 10% of its potential is utilized.

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