On October 25, Binance founder CZ announced on Twitter: Kyrgyzstan's national stablecoin KGST has launched on the BNB Chain, and the country will establish national cryptocurrency reserves including BNB and BTC.
Finally, CZ calls on more cryptocurrency practitioners to explore blockchain entrepreneurial opportunities in this Central Asian country.
However, just two weeks before CZ's tweet, the RWA asset issuance and trading platform—PicWe had already launched the RWA project of the Isfayram hydropower station in Kyrgyzstan, becoming the first decentralized platform in the country to practice asset tokenization.
It is worth noting that PicWe operates on the BNB Chain.
I. Why Kyrgyzstan?
Kyrgyzstan, a Central Asian landlocked country known for its glaciers and hydropower civilization, has shown strong momentum in the blockchain race in Central Asia in recent years.
In April 2025, the National Investment Agency directly under the President of Kyrgyzstan signed a strategic memorandum of understanding with Binance founder CZ, officially appointing CZ as the official advisor for national blockchain development, cryptocurrency regulation, and Web3 innovation.
According to the memorandum, CZ will provide forward-looking framework guidance for Kyrgyzstan in the field of digital assets, including technical support for blockchain infrastructure and policy formulation. Kyrgyzstan's President Sadyr Zhaparov has made it clear: 'Blockchain and digital finance are national priority development areas.'
Kyrgyzstan's friendly attitude towards the cryptocurrency industry is also reflected in its tax policies. The country imposes a tax rate of 10% on the electricity costs of cryptocurrency mining activities, while profits from the sale of crypto assets are subject to a 10% income tax, which is competitive internationally.
Having sensed the entrepreneurial opportunities in cryptocurrency in Kyrgyzstan, PicWe has already taken action before CZ publicly encouraged cryptocurrency entrepreneurs to pay attention to Kyrgyzstan.
In October 2025, the PicWe platform launched the world's first hydropower RWA project—the Isfayram hydropower station in Kyrgyzstan. Through the PicWe platform, the Isfayram hydropower station successfully completed the first round of financing of 1 million dollars, and its circulating market value quickly exceeded 10 million dollars.
II. PicWe builds an RWA ecosystem based on BNB Chain
PicWe is positioned as a 'new generation financial infrastructure' committed to connecting traditional financial assets with the on-chain world.
PicWe is currently compatible with multiple public chains such as BNB Chain, Base, and Arbitrum, achieving a seamless experience of 'one-time on-chain, multi-chain circulation.'
In terms of RWA, PicWe provides a complete solution, using the innovative IRO model to help RWA assets with financing and trading.
After completing the IRO financing, all funds are automatically locked in the treasury contract generated by PicWe for each RWA project. The RWA asset party needs to regularly fulfill the promised asset yields (APY) to unlock the funds raised from the community in batches. For example, the Kyrgyzstan hydropower project needs to inject funds with an APY of 20% into the treasury contract regularly to unlock the funds.
Moreover, PicWe has designed a floor price for each RWA Token: financing amount + RWA Token transaction fees + RAW APY earnings, together forming the value support for the floor price.
This series of mechanism designs is aimed at maximizing the protection of RWA investors' rights.
The PicWe platform serves as a full-chain RWA infrastructure on the BNB Chain, providing a fully automated on-chain solution from issuance to fundraising for RWA assets, including the Kyrgyzstan hydropower project.
This model not only reduces financing costs but also breaks through geographical limitations, allowing global users to participate in high-quality RWA investments with low thresholds.
III. The enormous imaginative space for the integration of national stablecoins and RWA
As Kyrgyzstan issues a national stablecoin on the BNB Chain, the full-chain stablecoin WeUSD on the PicWe platform is expected to be the first to support this stablecoin for RWA purchases.
This will create a complete closed loop of the digital economy: national stablecoins as payment tools, RWA representing real assets. Investors can use Kyrgyzstan's national stablecoin to invest in the country's real assets like hydropower stations on PicWe, enjoying the transparent processes and stable returns brought by blockchain technology.
On one hand, the use scenarios for national stablecoins will be significantly expanded, extending from government-related payments to investments in the real economy;
On the other hand, global investors can use Kyrgyzstan's national stablecoin through the PicWe platform to invest in the country's quality real assets, further promoting the development of the country's digital economy.
For a country like Kyrgyzstan, which relies heavily on overseas remittances (overseas remittances account for about 30% of the country's GDP), the combination of national stablecoins and RWA will also provide new solutions for cross-border payments and investments.
In the future, the combination of these stablecoin ecosystems with RWA platforms like PicWe will further enhance capital flow efficiency.
IV. The core value of PicWe in the layout of RWA in Central Asia
PicWe's early layout in Kyrgyzstan has far-reaching strategic significance.
According to a report by the Boston Consulting Group (BCG), by 2030, the global RWA market size is expected to reach 16.1 trillion dollars. Kyrgyzstan and its Central Asian neighbors (such as Kazakhstan and Uzbekistan) are forming a regional 'blockchain cooperation circle.'
These countries have rich natural resources and infrastructure construction needs, providing a broad application scenario for RWA. With the deepening of the 'Belt and Road' initiative, the economic and trade relationship between China and Kyrgyzstan is becoming increasingly close. RWA projects on the PicWe platform are expected to become a new bridge for economic cooperation between China and Kyrgyzstan, exploring new paths to replace US dollar settlement with energy RWA and reduce international trade costs.
PicWe's greater vision is to build a new international clearing and cooperation network parallel to SWIFT. If multiple countries deploy national stability based on the BNB Chain and achieve interconnection through platforms like PicWe, it will reshape the global capital allocation pattern.
In the coming years, as more countries follow Kyrgyzstan's blockchain strategy, the RWA track will witness explosive growth. With its early layout in the RWA track and long-term deep cultivation on the BNB Chain, PicWe can not only quickly occupy market heights but also leverage the BNB Chain to help countries like Kyrgyzstan take the lead in opening the on-chain RWA era.
This may be the reason why CZ calls on cryptocurrency practitioners to explore blockchain entrepreneurial opportunities in Kyrgyzstan.
In any case, PicWe is already on the road.
