Binance Stablecoin Tops Charts in Kyrgyzstan Among New Users

Binance, one of the largest cryptocurrency exchanges in the world, has announced that its stablecoin, KGST, has become one of the top three most traded tokens among new users in Kyrgyzstan.

The report was presented by Kirill Khomyakov, Binance's regional head for Central and Eastern Europe, Central Asia, and Africa, at a meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies on September 5.

In December last year, Binance became the first centralized exchange to launch trading of Kyrgyzstan's national stablecoin. The exchange has since deployed KGST's smart contracts on three blockchains, conducted an audit, and supports on-chain issuance and burning operations.