He noted that the stablecoin USDT continues to be one of the most popular instruments in the market. According to the expert, the presence of state stablecoins opens up new opportunities for the domestic economy.
“USDKG is issued with the full participation of the Ministry of Finance, while KGST is already available on the Binance platform, allowing users to purchase various cryptocurrencies,” he said.
Arsen Edilbek uulu added that this contributes to reducing the level of dollarization in the crypto sphere. “In Kyrgyzstan today, you can buy Bitcoin directly for som, bypassing the dollar. This creates excellent conditions for investment and interaction with the cryptocurrency market. We have made significant progress in this direction,” he emphasized.
In addition, the expert clarified that KGST operates on the Binance Smart Chain.
“According to my data, the asset operates specifically on this platform. Binance accounts for over 60% of the entire crypto industry market, and therefore, presence on this exchange is key to the development of the digital asset,” he concluded.
