🔥 Overview of $KGST - Kyrgyzstan's national stablecoin Binance announced list

🖤 $KGST is a stablecoin pegged 1:1 with the Kyrgyz Som (KGS - national fiat), belonging to the categories of national-backed stablecoins and de-dollarization

🖤 Kyrgyzstan has a large remittance volume (~$2-3B/year, accounting for ~20-30% of GDP) but high fees (3-20%), $KGST will help reduce fees while supporting the CBDC "digital som" separately

Key advantages of $KGST:

🖤 Government-backed, reserves at the state bank

🖤 Focused on remittances and domestic payments in Central Asia

🖤 Supported by CZ in terms of technology and marketing

Quite strong in real-world adoption and very low de-peg risk, but not suitable for speculative price increases

When will it be Vietnam's turn to have a stablecoin backed 1:1 with fiat, huh guys? 🤭