The National Investment Agency under the President of Kyrgyzstan has signed a Memorandum of Understanding with Changpeng Zhao.

Zhao, the founder of Binance, signed the memorandum aimed at advancing the country’s cryptocurrency and blockchain ecosystem.

According to the agreement, the parties will collaborate on infrastructure development, technical expertise, and consulting services related to blockchain and virtual assets. 

The initiative also includes educational programs to train specialists in blockchain technology, virtual asset management, and cybersecurity.

CZ, who has advised multiple governments on crypto regulations and blockchain adoption, described such initiatives as meaningful for advancing government efficiency and innovation.

“I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading. I find this work extremely meaningful,” CZ tweeted on the news.

Kyrgyzstan’s digital som 

The partnership aligns with Kyrgyzstan’s efforts to strengthen its digital economy and leverage blockchain beyond trading applications. 

Kyrgyzstan’s Parliament approved a draft law defining the legal framework for the digital som, the country’s planned central bank digital currency. The National Bank of Kyrgyzstan scheduled prototype testing for early 2025, with a decision on full implementation expected by late 2026.