Kyrgyzstan Legalizes CBDC, Sets Stage for Digital Currency Pilot Program

The Kyrgyz Republic has taken a significant step towards embracing digital finance by granting legal status to its proposed central bank digital currency (CBDC), the ‘digital som’. This move follows a partnership agreement with Binance founder Changpeng Zhao (CZ) and aligns with the country’s goal of modernizing its financial systems. 2025 will mark the start of a pilot program, designed to test the feasibility and functionality of this innovative digital currency before wider adoption.