Kyrgyzstan Launches National Stablecoin in Partnership with Binance

Kyrgyzstan has launched a national stablecoin and central bank digital currency in partnership with Binance. The stablecoin, A5A7, is backed by the Russian rouble and has been sanctioned by Western governments. Binance's Changpeng Zhao was appointed as an adviser on digital assets to the president of Kyrgyzstan in May. The Kyrgyz national stablecoin has been launched on the BNB Chain, and a national cryptocurrency reserve has been established, which includes Binance's BNB token.