#Kyrgyzstan has launched $KGST , a sovereign #stablecoin backed 1:1 by the Kyrgyz som, marking a rare case of a national government issuing a stablecoin rather than a private entity.
#KGST is live on $BNB Chain and listed on Binance, making Kyrgyzstan the first CIS country to debut a state-backed stablecoin on a major global exchange.
Soon after, Binance founder Changpeng Zhao (CZ) reacted to the announcement on X. CZ described KGST as the first nation-backed stablecoin on #BNBChain . He added that “many more” could come next.
