- Kyrgyzstan has signed an agreement with Binance to enable cryptocurrency payments via Binance Pay.
- Binance and authorities in Kyrgyzstan are set to roll out nationwide programs aimed at educating the public about cryptocurrency.
- The new partnership aims to expand digital transactions across Central Asia and the EAEU.
Kyrgyzstan signs a formal deal with the Binance platform to establish digital payment in the country. Binance’s founder Changpeng Zhao confirmed the deal during a meeting attended by President Sadyr Zhaparov.
The agreement, which involves the National Investment Agency under the president’s office, outlines cooperation to implement crypto payment systems, expand blockchain use, and support financial literacy. Binance will help facilitate cross-border transactions and bring crypto-based payment options to local merchants through its service.
Government and Binance Plan Rollout of Crypto Payment Systems
The memorandum of understanding was signed as part of the inaugural meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies, a body recently established by the Kyrgyz government to guide the country’s digital finance policy. Zhaparov also met with Binance officials including founder Changpeng Zhao who was in the capital for a working visit.
Binance pay accepts users to pay with cryptocurrency at businesses that allow digital payments. Under the new agreement, the platform will be made accessible to merchants in Kyrgyzstan. The goal is to simplify domestic transactions and support international payments within the Eurasian Economic Union, which includes Kyrgyzstan, Kazakhstan, Russia, Armenia, and Belarus.
According to the National Investment Agency, the cooperation will help expand access to financial tools and bring additional transparency to cross-border transactions. Binance confirmed the collaboration would focus on developing crypto infrastructure, with support from both government and private sector partners.
Education Efforts to Accompany Digital Finance Initiatives
In addition to payment integration, the agreement includes provisions for crypto education and training. Binance Academy, the company’s educational platform, will work with Kyrgyz authorities to develop courses and resources aimed at improving digital literacy among both institutions and the public.
The education efforts are intended to provide a basic and advanced understanding of cryptocurrencies, blockchain technology, and related financial tools. Programs will be offered to civil servants, financial professionals, and citizens interested in digital finance and entrepreneurship.
Farhat Iminov, head of the National Investment Agency, said the agency plans to support the development of a regulatory and educational framework that can prepare Kyrgyzstan’s population and institutions for the changing landscape of digital finance.
Earlier in April, Binance signed another agreement with the Kyrgyz government focused on building the country’s Web3 and blockchain ecosystem. The two initiatives together reflect growing interest from Kyrgyz officials in using digital assets to expand economic opportunities and modernize financial systems.
One of its own central bank digital currencies has been discussed by Kyrgyzstan recently. A sample of the digital som will be developed and tested to start by the end of 2025, and the government approved it in March. Broad work in banking and government on how to introduce new technologies also connects with developing the digital currency project.
Other parts of Central Asia are in similar developments. Like in neighboring Kazakhstan, the central bank is preparing to launch a national crypto exchange, which also has proposed creating a stablecoin with a backing of that country’s currency, the tenge. Payments and a store of value for digital transactions will be enabled with that coin.
Kyrgyz officials view cooperation with global companies as an opportunity to gain technical support and introduce global standards into their digital finance infrastructure. The recent agreements with Binance place the country among the few in the region to actively pursue both government-led and private sector-supported crypto development.
