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Binance has signed a memorandum of understanding (MOU) with the National Investment Agency of Kyrgyzstan to introduce cryptocurrency payment infrastructure and education about blockchain technology in the country.

As the exchange reported in a press release on May 4, the memorandum of understanding was formalized during the inaugural meeting of the Digital Assets Development Council, which was attended by the President of Kyrgyzstan, Sadyr Japarov.

Under the agreement, Binance will introduce Binance Pay in Kyrgyzstan, enabling tourists and residents to make cryptocurrency-based transactions.

The partnership also focuses on educational collaboration. Binance Academy will work with Kyrgyz government agencies and financial institutions to develop educational programs centered on blockchain.

“Binance is pleased to collaborate with the National Investment Agency of the Kyrgyz Republic to accelerate the development of crypto assets in the region,” said Kyrylo Khomiakov, regional head of Binance for Central and Eastern Europe.