Binance and Kyrgyzstan Forge Strategic Partnership

The largest cryptocurrency exchange, Binance, has joined forces with the National Investment Agency under the President of Kyrgyzstan to advance the digital assets sector. This was reported to ForkLog by representatives of the agency.

“This agreement aims to create a long-term sustainable platform for the development of a strategic partnership in the emerging field of digital assets and blockchain in the country,” the document states.

The memorandum of understanding was signed during the first meeting of the Digital Asset Development Council, attended by the President of Kyrgyzstan, Sadyr Japarov.

A key focus of the collaboration will be the implementation of cryptocurrency payments through the Binance Pay service, primarily to simplify transactions for tourists visiting the country. The initiative also covers cross-border payments in the Central Asian region and within the EAEU.

Binance Academy will take charge of the educational aspect. Plans include launching training programs for government bodies, banks, and the general public to raise awareness of the opportunities and risks associated with cryptocurrencies. Special attention will be given to financial literacy and supporting the Web 3.0 ecosystem.

In April, Binance founder Changpeng Zhao became an advisor to the Kyrgyz government on cryptocurrency and blockchain issues.

In the same month, Japarov signed amendments to the law “On the National Bank,” allowing for the launch of a pilot project for a prototype national digital currency.