#squarecreator - Changpeng Zhao proposed using Bitcoin and BNB for Kyrgyzstan's reserves.
Kyrgyzstan signed a memorandum of understanding with Binance to launch Binance Pay in the country.
The co-founder of Binance, Changpeng “CZ” Zhao, has proposed Bitcoin and BNB as the first digital assets to build Kyrgyzstan's national crypto reserves.
On May 5, Zhao shared on X that he had advised Kyrgyzstan to start with Bitcoin.
when building its national crypto reserve. In 2024, Forbes stated that Zhao owns about 94 million BNB tokens, representing 64% of the circulating supply of BNB. At the time of writing, these tokens are valued at approximately 55 billion dollars.
The proposal followed Zhao's earlier announcement that he had started advising the National Investment Agency (NIA) of Kyrgyzstan on blockchain and cryptocurrency-related matters.
On April 3, Zhao confirmed that he has been officially and unofficially advising governments on crypto frameworks and blockchain solutions. The former CEO of Binance said he finds this work extremely meaningful.
Binance will launch cryptocurrency payments in Kyrgyzstan
A month after CZ announced his role advising Kyrgyzstan, Binance announced a partnership with the country to launch a cryptocurrency payment service.
On May 4, Binance signed a memorandum of understanding (MOU) with the NIA to introduce Binance Pay in the country, enabling cryptocurrency transactions. The partnership also aims to promote cryptocurrency education in the country, with Binance Academy set to work with government agencies on the development of educational programs focused on blockchain.
On April 17, Binance CEO Richard Teng said in an interview with the Financial Times that the exchange had been advising countries on crypto reserves.