Changpeng “CZ” Zhao, former CEO of Binance, has signed an agreement with Kyrgyzstan's National Investment Agency to boost the country's Web3 capabilities. At the core of this initiative is the A7A5 stablecoin, pegged to the Russian ruble, aimed at emerging markets.

CZ, an influential crypto figure, is advising Kyrgyzstan to become a global crypto hub and has been working with several governments on blockchain solutions for efficiency. A memorandum was signed with the Kyrgyz President to develop cryptocurrency and blockchain technology ecosystems.

President Sadyr Zhaparov stated that Binance will provide technological support, consultancy, and aim to strengthen Kyrgyzstan in the Web3 space, also hoping for collaborations with Russia.