In his post, Kyrgyz President Sadyr Zhaparov described it as historic news for Kyrgyzstan's ambitions in digital assets. He added that KGST is backed 1:1 by the country's national currency, the som.
Zhaparov congratulated the KGST development team and the project participants for the launch. He also highlighted BNB Chain as the network supporting the launch.
Inclusion in KGST is important because most major stablecoins are issued by private companies. This dynamic is beginning to change as other regulators explore stablecoin models issued by banks.
U.S. banks are about to issue stablecoins under a new framework supervised by the FDIC, linked to the GENIUS Act. A nationally backed model shifts attention from corporate reserves to sovereign credibility.
The president added that KGST is the first stablecoin from the CIS countries to be listed on a global cryptocurrency platform. This statement positions inclusion as a regional first, not just a local milestone.
He stated that the stablecoin could help expand the use of som in the digital environment. He also linked the project to cross-border payments and greater integration into the global virtual asset ecosystem.
Changpeng Zhao (CZ) reacted to the announcement on X. CZ described KGST as the first nationally backed stablecoin on BNB Chain. He added that many more could emerge soon.
