Former Binance CEO Changpeng Zhao (CZ) has recently signed a memorandum of understanding (MoU) with the Kyrgyz Republic to support the growth of blockchain and crypto infrastructure in the country. This agreement, which was signed between Zhao and the National Investment Agency under the President of Kyrgyzstan, outlines plans to collaborate on technological infrastructure, digital asset frameworks, and education in blockchain technologies.
According to a statement from Kyrgyz President Sadyr Zhaparov, the initiative includes providing technical expertise, consulting services, and training in fields such as blockchain development, virtual asset management, and cybersecurity. While Kyrgyzstan has not been a major hub for crypto activity in the past, the government has demonstrated increased interest in regulatory frameworks and innovation strategies in response to global trends in digital assets and tokenization.
The specifics of the projects or timelines were not disclosed in the announcement. However, both parties have described the MoU as a foundation for long-term cooperation and technological integration.
The MoU signifies Kyrgyzstan’s efforts to integrate blockchain into various sectors of its economy and governance systems. President Zhaparov emphasized in the official statement that the collaboration will bolster the country’s technological foundation and ensure the secure implementation of virtual assets. He stated, “In light of the rapid global evolution of digital technologies, such initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately generating new opportunities for businesses and society as a whole.”
In a post on X, Zhao commented on the agreement, mentioning that he now advises “a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading.” He positioned the Kyrgyz MoU as part of a broader initiative to promote the global adoption of blockchain technology “one country at a time.”
As Kyrgyzstan takes steps towards fostering blockchain growth and integrating digital assets into its economy, this collaboration with Zhao and Binance highlights the country’s commitment to embracing innovative technologies and ensuring a secure environment for virtual assets. This partnership lays the groundwork for long-term cooperation and technological advancements in Kyrgyzstan’s digital landscape.