Binance, the largest cryptocurrency exchange in the world, has entered into a strategic partnership with the National Investment Agency of Kyrgyzstan.
The goal is to promote the implementation of crypto payments and enhance educational levels in the field of digital finance at the national level.
Binance Pay is preparing to simplify regional transfers in Central Asia
The partnership, announced on May 4, formalizes a Memorandum of Understanding (MoU) to expand the use of digital assets in Kyrgyzstan.
This is based on a previous agreement signed during a meeting of the Digital Assets Development Council, which was attended by President Sadyr Japarov.
Under the latest agreement, Binance Pay will be implemented as a tool to support seamless crypto payments in the region.
This implementation will simplify international money transfers and trade flows, especially between Kyrgyzstan, neighboring Central Asian countries, and members of the Eurasian Economic Union (EAEU).
"This Memorandum of Understanding represents a shared vision for leveraging blockchain technology to create sustainable economic opportunities, enhance financial inclusion, and promote the freedom of money in Kyrgyzstan," said Kirill Khomyakov, Regional Head of CEE, Central Asia, and Africa at Binance.
In addition to crypto payments, the initiative prioritizes public education. Binance Academy will collaborate with the Investment Agency to develop financial literacy programs aimed at both institutions and ordinary citizens.
These efforts aim to equip the residents of Kyrgyzstan with the knowledge necessary to navigate digital assets and Web3 technologies.
Educational programs will cover a wide range of topics, from basic awareness of cryptocurrencies to more complex concepts of digital finance.
According to the exchange, this step is part of a larger plan to empower local entrepreneurs and foster innovation in the country's tech sector.
Farhad Iminov, head of the National Investment Agency, described the partnership as a progressive step towards creating a robust digital finance ecosystem.
He emphasized the importance of establishing a solid foundation for the implementation of cryptocurrencies and improving access to financial knowledge.
This step marks another stage in Binance's growing role as a crypto policy partner for governments.
Earlier this year, Binance founder Changpeng Zhao was appointed as a strategic advisor to the Crypto Council of Pakistan. He is also advising the government of Kyrgyzstan on developing its Web3 and blockchain ecosystem.
Additionally, Binance CEO Richard Teng revealed that the company is helping several countries explore the idea of strategic Bitcoin reserves, following in the footsteps of the United States.
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