CZ Proposes BNB and BTC as the Basis for Kyrgyzstan's Crypto Reserve

Changpeng Zhao, the cofounder of the Binance exchange and its former CEO, frequently known simply as CZ to crypto fans, has taken to the X platform

Changpeng Zhao, the cofounder of the Binance exchange and its former CEO, who is frequently known simply as CZ to crypto fans, has taken to the X platform (formerly known as Twitter) to share an important post.

CZ proposes BNB and BTC as basis for Kyrgyzstan’s crypto reserve

As part of his recent visit to Kyrgyzstan, the crypto executive has proposed that the government make Binance Coin (BNB) and Bitcoin the basis for its Strategic Cryptocurrency Reserve, he disclosed.

"Not my car, but ❤️ the plate. Kyrgyzstan 🇰🇬🙏 Among other things, also gave my advice to make #BNB and #BTC as the two starting crypto for the National Crypto Reserve," CZ wrote.

Notably, a month ago, CZ accepted the invitation of the Kyrgyz President Sadyr Japarov to become a member of the country’s National Crypto Committee.

Now, CZ has helped to sign a partnership between Kyrgyzstan and Binance to help the country launch internal cryptocurrency payments.

Many countries are now considering the launch of their own Strategic Crypto Reserve, following the example of the U.S., which already has 200,000 Bitcoins for it.

Thanks to CZ’s role as an intermediary, Binance has signed a memorandum of understanding with Kyrgyzstan, and is now getting ready not only to launch crypto payments but also educational programs about blockchain and crypto in the country. The latter will be achieved by Binance Academy.

"Honored to be invited by Mr. President Sadyr Japarov of Kyrgyzstan to join the National Crypto Council. 🇰🇬Also learned so much about the unique cultures of Kyrgyzstan. Truly amazing place.Let's grow the industry together. 🤝," Changpeng Zhao, cofounder and former CEO of Binance.

The memo was signed on April 3, according to CZ's earlier X post. CZ accepted the official invitation to join the crypto committee in Kyrgyzstan on Sunday.