Ex-Binance CEO Changpeng Zhao Advises Kyrgyzstan to Hold BTC, BNB as Reserve Assets
- Changpeng Zhao urged Kyrgyzstan to adopt BTC and BNB as national reserve assets.
- Binance signed a deal to launch crypto payments and blockchain education in Kyrgyzstan.
- Kyrgyzstans new law enables its central bank to issue a digital version of the som.
Binance co-founder and former CEO Changpeng Zhao has proposed that Bitcoin and Binance Coin (BNB) should be the basis of Kyrgyzstans planned national crypto reserve. Zhao posted the suggestion publicly via his official X account on May 5, pointing out that Bitcoin is scarce and that BNB has utility within the Binance ecosystem.
This recommendation follows Zhaos recent collaboration with Kyrgyzstans National Investment Agency (NIA). He confirmed earlier this year that he now advises governments on crypto frameworks and blockchain technology. Zhao called his advisory work extremely meaningful and has previously accepted Kyrgyz President Sadyr Zhaparovs invitation to join the National Crypto Committee.
Kyrgyzstan Deepens Crypto Engagement with Binance Partnership
One day before Zhaos announcement, Binance signed a memorandum of understanding with Kyrgyzstans NIA to launch a crypto payments system using Binance Pay. The partnership also includes a blockchain education program in collaboration with Binance Academy to build crypto literacy in the region.
Binance CEO Richard Teng confirmed that the exchange has provided crypto reserve advisory services to various state administrations. The global rise in inflation rates and the popularity of digital finance have motivated Kyrgyzstan to become one of the multiple nations exploring crypto reserves as part of their strategic assets.
The Kyrgyz government appears committed to expanding its crypto ecosystem. On April 17, President Zhaparov signed legislation establishing a central bank digital currency (CBDC) pilot program. The new law designates the digital som as legal tender and grants full control of the rollout to the National Bank of the Kyrgyz Republic. The central bank will manage the testing, usage framework, and public launch, with a pilot version expected in 2025.
BNB and Bitcoin Touted as Key Reserve Assets
The foundation of CZs recommendation for Bitcoin and BNB in Kyrgyzstans crypto reserve is based on trustworthiness and utility. Bitcoin has become known as digital gold because it maintains a store of value due to its fixed supply and decentralized nature. Within Binances ecosystem, BNB provides utility that allows users to save on trading fees and execute smart contracts.
As of early May 2025, BNBs trading volume is approximately $593, while Bitcoin trades above $94,000. According to Zhao, he currently holds about 94 million BNB tokens, about 64% of the circulating supply, which is presently valued at roughly $55 billion.
Kyrgyzstans authorities plan to create the Gold Dollar (USDKG) stablecoin supported by $500 million of state-held gold reserves while maintaining its U.S. dollar value. The Ministry of Finance has not publicly announced the initiative, although it represents progress toward implementing digital assets in the financial system.
Read more: https://www.tronweekly.com/ex-binance-ceo-advises-kyrgyzstan-hold-btc-bnb/
Text source: TronWeekly
