President of Kyrgyzstan Sadyr Japarov met with Rachel Conlan, Global Chief Marketing Officer at Binance, to discuss key issues in the development of the digital economy, the presidential press service reported.
Sadyr Japarov said the Secretariat of the National Council for the Development of Virtual Assets and Blockchain Technologies is working on the launch of a new digital asset, KGST, which will be pegged to the national currency, the som.
«Together with the National Bank, we are developing the digital som — a state-issued electronic currency. A demo version of the platform is already operating in test mode, with trials using real data planned in the near future. In the long term, integration of the digital som with KGST is envisioned to expand its use domestically and in international settlements,» he said.
At the conclusion of the meeting, both parties confirmed mutual interest in further deepening cooperation, exchanging expertise, and supporting initiatives.
