Binance Partners with Kyrgyzstan for Crypto Payment Infrastructure

Binance has entered into a strategic partnership with the National Agency for Investments of Kyrgyzstan to introduce crypto payment infrastructure and blockchain education in the country. The collaboration was formalized through a memorandum of understanding (MoU) signed on May 4 during the first Council for the Development of Digital Assets session, which was chaired by Kyrgyz President Sadyr Japarov.

As part of the agreement, Binance will introduce its contactless crypto payment solution, Binance Pay, in Kyrgyzstan. This platform allows users to make payments using digital currencies, providing an alternative payment method for both locals and visitors. This initiative positions Kyrgyzstan as a regional leader in adopting practical crypto infrastructure and promotes financial inclusion through decentralized payment solutions.

In addition to payment solutions, the partnership also focuses on education. Binance Academy, the exchange’s educational arm, will work with Kyrgyz officials and financial institutions to develop blockchain education programs. Kyrylo Khomiakov, Binance Regional Head for Central and Eastern Europe, highlighted the company’s mission to empower the region, stating, “Binance is looking forward to collaborating with the National Agency for Investments of the Kyrgyz Republic to enable the development of crypto-assets in the region to move forward.”

Kyrgyzstan’s support for crypto innovation extends beyond private collaborations. On April 18, President Japarov signed a constitutional law permitting the pilot launch of a central bank digital currency (CBDC) known as the “digital som,” which will have legal tender status. Additionally, in early April, Binance founder and former CEO Changpeng “CZ” Zhao committed to consulting with Kyrgyz authorities on crypto regulation and blockchain strategy.

Kyrgyzstan’s energy landscape further supports its crypto ambitions. With over 30% of its energy derived from hydroelectric sources, the country is an attractive destination for crypto mining. The International Energy Agency reports that only 10% of its hydroelectric capacity is currently in use, indicating significant potential for expansion.

This partnership is part of Binance’s broader strategy to collaborate with governments worldwide. Last month, CEO Richard Teng revealed that several countries have approached Binance seeking guidance on Bitcoin reserves and regulation. Furthermore, former CEO CZ joined as an adviser for Pakistan’s Crypto Council in April, underscoring Binance’s growing influence on national crypto policies.