Kyrgyzstan will use Binance Pay to enable crypto payments for businesses and users across the country.
Binance Academy will offer training to boost blockchain skills for officials, students, and financial professionals.
The digital som pilot is underway with plans to test the central bank digital currency later this year.
Kyrgyzstan has formalized a wide-ranging partnership with Binance to advance its digital finance and blockchain initiatives.
https://twitter.com/binance/status/1918905149113647374
The Council for the Development of Digital Assets held its initial gathering on May 4 which confirmed the existing collaboration. The partnership came after Binance and the National Agency for Investments of Kyrgyzstan entered an earlier agreement on April 3.
Binance Pay to Enable Crypto Payments Nationwide
A key part of the agreement includes the rollout of Binance Pay in Kyrgyzstan. This will allow merchants and users to make and accept crypto payments across the country. The initiative aims to boost financial inclusion and enable seamless cross-border transactions. It also supports Kyrgyzstan’s goal to strengthen its position in regional crypto networks.
Authorities plan to integrate the system into sectors with high remittance flows and tourism-based businesses. The payment system will run on contactless technology, ensuring quick and secure transactions for users and vendors alike.
Focus on Blockchain Education and Training
The partnership extends beyond payments. Binance Academy will work with Kyrgyz institutions to introduce blockchain-focused education. Training will target civil servants, regulators, financial professionals, and students. This effort seeks to improve digital literacy and build workforce readiness for blockchain and Web3 jobs.
Workshops, courses, and certification programs will be delivered across schools, universities, and public institutions. Binance will also assist in developing academic materials tailored to local needs and regulatory priorities.
Support for National Blockchain Infrastructure
Binance will also contribute to Kyrgyzstan’s digital asset infrastructure. The company will advise on regulatory frameworks and technical standards for blockchain use in public services. This includes potential applications in digital identity, records management, and procurement systems.
The collaboration comes as Kyrgyzstan explores the use of blockchain for transparent governance and efficient public administration. Authorities are also considering a national Bitcoin reserve strategy as part of their broader crypto policy.
Digital Som Pilot Underway
Kyrgyzstan recently granted legal tender status to its planned Central Bank Digital Currency. The "digital som" is now in pilot phase, with full testing expected later in 2025. The National Bank of Kyrgyzstan will oversee its issuance and circulation.
The final decision on full deployment will follow the pilot program’s evaluation. If successful, Kyrgyzstan could become one of the first countries to embed a CBDC into its legal framework through constitutional law.
Strategic Guidance and Technical Expertise
Binance will provide regulatory and technical support throughout the partnership. This includes guidance on crypto laws and strategic planning. The collaboration marks a major step in Kyrgyzstan’s digital transition and positions it for wider blockchain adoption.
