The former CEO of Binance, Changpeng Zhao (CZ), has entered into a memorandum of understanding (MoU) with the Kyrgyz Republic to foster the development of blockchain and cryptocurrency infrastructure within the nation.
This agreement, signed with the National Investment Agency under the Kyrgyz President, details plans for collaboration on technology infrastructure, digital asset regulations, and educational initiatives in blockchain technologies.
According to a statement from President Sadyr Zhaparov, this initiative will involve the provision of technical expertise, consulting services, and training in areas such as blockchain development, management of virtual assets, and cybersecurity.
Although Kyrgyzstan has not historically been viewed as a significant player in the crypto landscape, the government has recently shown a growing interest in establishing regulatory frameworks and innovation strategies that align with global trends in digital assets and tokenization.
While specific projects and timelines have not been announced, both parties described the MoU as a basis for long-term collaboration and technological integration.
Encouraging blockchain development
This MoU signifies Kyrgyzstan’s commitment to incorporating blockchain technology into various sectors of its economy and governance. In an official announcement, President Zhaparov highlighted that this partnership will enhance the country’s technological infrastructure and promote secure implementation of virtual assets.
He further stated:
“Given the swift global advancement of digital technologies, such initiatives are essential for sustainable economic growth and the security of virtual assets, ultimately creating new opportunities for businesses and society at large.”
In a post on X, Zhao remarked on the agreement, suggesting that he now advises “a few governments on their cryptocurrency regulatory frameworks and blockchain solutions to enhance government efficiency, extending blockchain beyond mere trading.”
He positioned the Kyrgyz MoU as part of a larger effort to promote global adoption of blockchain technology “one country at a time.”