Changpeng Zhao says that Bitcoin & BnB should be part of Push Crypto in Kyrgtomode – Cryptomode
The co -founder and former CEO of the world’s largest currency exchange in the world, Binance, Changpeng Zhao (CZ), Bitcoin and BNB as possible backup assets for the National Treasury in Kyrgyzstan.
At a post on May 5 on X, Zhao said that he advised the Kyrgyz government to be considered Bitcoin and BNB as a basis for encryption reserves, providing a degree of diversification outside the strategic bitcoin reserves that are evaluated by the United States.
The comment follows his announcement last month that he is now an official adviser to the National Investment Agency in Kyrgyzstan (NIA), as he directs the Central Asian country when it comes to encryption space.
The proposal comes at a time when Binance and Kyrgyzstan deepen their cooperation. On May 4, NIA signed the Memorandum of Understanding (MO) with Binance to launch Binance Pay in the country.
The payment system enables users to send and receive encrypted currencies in daily transactions. The partnership also includes plans to develop Blockchain education programs through the Binance Academy, which aims to train government officials and the public on digital financing.
BnB huge bars of Changpeng Zhao
Zhao’s recommendation can have a significant effect. Former Chief Executive of Binance Believe To carry about 94 million BNB symbols – 64 % of the trading asset offer – with more than $ 50 billion.
The idea of a national treasury, which is mainly controlled by one individual, may raise concerns about governance. But Kyrgyz officials did not confirm whether they would act on the suggestion of Zhao.
It is worth noting that BNB can soon see a wider adoption as Vaneck recently presented a S-1 model with the US Securities and Stock Exchange Committee (SEC) to launch ETF BNB in the country.
However, the Kyrgyz government indicated broad intentions to integrate Blockchain into financial infrastructure. In mid -April, President Chaparov signed a legislation that allowed the Central Bank digital currency to the Central Bank (CBDC), giving a legal status of a digital version of the national currency.
It is said that the country is preparing to issue a Gold backed stablecooin It was linked to the US dollar and with the support of gold of $ 500 million, which is kept by the Ministry of Finance.
