what's KGST?

Kyrgyzstan's national stablecoin, KGST, is a government-backed digital asset pegged 1:1 to the Kyrgyzstani som (KGS), designed to facilitate efficient domestic and cross-border transactions within the country's emerging digital finance ecosystem. Launched on the BNB Chain in partnership with Binance, KGST aims to enhance financial inclusion, particularly for remittances which constitute a significant portion of Kyrgyzstan's GDP, by leveraging blockchain for low-cost, transparent transfers. The stablecoin is supported by reserves held by state banks and is positioned as a bridge between traditional finance and crypto infrastructure. The project is part of a broader national strategy that includes piloting a central bank digital currency (CBDC) known as the digital som and establishing a national cryptocurrency reserve. KGST operates under regulatory oversight from the National Council for the Development of Virtual Assets and Blockchain Technologies, ensuring compliance and stability. Its deployment on BNB Chain allows for interoperability with global crypto networks, potentially enabling listings on international exchanges to support Kyrgyz migrant workers abroad.

KGST listed on Binance Spot with trading bot services enabled.