Nano Labs Launches CNH-Pegged Stablecoin in Kyrgyz Republic to Boost Cross-Border Trade

Nano Labs, a China-based Web 3.0 infrastructure firm, has received official approval from the Kyrgyz Republic to launch a stablecoin pegged to the offshore Chinese yuan (CNH) [1]. This move is aimed at enhancing cross-border digital payments between Kyrgyzstan and China, reducing reliance on traditional banking systems, and lowering transaction costs and delays [2]. The initiative was approved by key Kyrgyz authorities, including the National Investment Agency and the National Council on the Development of Virtual Assets and Blockchain Technologies, following a review by the Presidential Administration [1].

According to the official statement, the CNH-pegged stablecoin will serve as a strategic tool to boost trade, investment, and financial transparency between the two countries [2]. Nano Labs will now submit technical documentation and a white paper detailing the stablecoin’s structure, security, and operational framework, in line with government requirements [1]. The company also emphasized its commitment to working closely with local stakeholders to ensure regulatory compliance and smooth execution of the project [2].

This decision marks a strategic shift for Nano Labs, which had previously considered launching a similar CNH- or Hong Kong dollar (HKD)-pegged stablecoin in Hong Kong. However, the company has now chosen to pivot its focus to countries participating in China’s Belt and Road Initiative [1]. This decision reflects a broader trend in the region, where Kyrgyzstan has shown greater openness to blockchain innovation compared to other financial hubs like Hong Kong [1].

Nano Labs has established itself as a key player in the digital economy, specializing in high-throughput and high-performance computing chips used in blockchain and artificial intelligence applications [1]. The company also holds reserves in major digital currencies, including Bitcoin and Binance Coin, with BNB serving as its primary reserve asset [1]. This initiative aligns with its broader vision of advancing digital financial infrastructure in international markets.

If successful, the CNH-pegged stablecoin could serve as a model for cross-border digital payments in developing economies, potentially encouraging other Belt and Road countries to adopt similar financial instruments [1]. The project is also expected to contribute to the expansion of Kyrgyzstan’s digital economy and reinforce China’s growing influence in the region’s financial landscape [1].

Nano Labs has indicated its intention to proceed with the stablecoin project in accordance with regulatory guidelines and to redirect its focus to international markets [1]. These forward-looking statements, however, come with inherent risks and uncertainties, as outlined in the company’s filings with the U.S. Securities and Exchange Commission [1].

Source:

[1] Kyrgyz Republic Approved to Proceed with Nano Labs' CNH-Pegged Stablecoin Initiative – GlobeNewswire. (https://www.globenewswire.com/news-release/2025/08/04/3126393/0/en/Kyrgyz-Republic-Approved-to-Proceed-with-Nano-Labs-CNH-Pegged-Stablecoin-Initiative.html)

[2] Nano Labs receives Kyrgyz approval for CNH-pegged stablecoin project – Investing.com. (https://www.investing.com/news/cryptocurrency-news/nano-labs-receives-kyrgyz-approval-for-cnhpegged-stablecoin-project-432SI-4167355)