Changpeng Zhao Says Bitcoin & BNB Should Be Part of Kyrgyzstan’s Crypto Push – CryptoMode
The co-founder and former CEO of the world's largest cryptocurrency exchange, Binance, Changpeng Zhao (CZ), has proposed Bitcoin and BNB as potential reserves owned for the national ark of Kyrgyzstan.
In a post of May 5 at X, Zhao said he advised the Kyrgyz government to consider Bitcoin and BNB as the foundation of crypto reserves, which offers a level of varying -different Bitcoin reserves reviewed by the United States.
The comment follows his announcement last month that he is a official advisor to the National Investment Agency (NIA) of Kyrgyzstan, who guides the country in Central Asia when it comes to crypto space.
The suggestion came as Binance and Kyrgyzstan deepened their cooperation. On May 4, the NIA signed a Memorandum of Understanding (MOU) with Binance to launch Binance Pay in the country.
The payment system provides users to send and receive cryptocurrencies in sun -day transactions. The cooperation also includes plans to develop blockchain education programs through the Binance Academy, aimed at training government and public officials in digital finance.
Changpeng Zhao's huge BNB handling
Zhao's recommendation may have an influence outside. Binance's former CEO is believed Handles around 94 million BNB tokens – thoroughly 64% of the switching asset supply – which values more than $ 50 billion.
The idea of a national wealth holding an asset controlled by a single individual can raise management concerns. But Kyrgyz officials have not confirmed whether they will act on Zhao's proposal.
Interestingly, the BNB may soon see the broader adoption as Vaneck recently filed an S-1 form with the US Securities and Exchange Commission (SEC) to launch a BNB ETF in the country.
However, the Kyrgyz government has signed a broader intent to include the blockchain in its financial infrastructure. In mid -April, President Sadyr Zhaparov signed the law that allowed a Pilot of the Central Bank Digital Currency (CBDC), which provides legal status to a digital version of the national currency.
The country has been reported preparing to issue a The gold supported by gold Pegged the US dollar and supported the $ 500 million worth of gold held by the Ministry of Finance.
