Binance, the leading global cryptocurrency exchange, has formed a strategic alliance with the National Investment Agency of Kyrgyzstan to promote the adoption of crypto payments and improve digital finance education throughout the country.

The collaboration, announced on May 4 through a Memorandum of Understanding (MoU), aims to expand the usage of digital assets in Kyrgyzstan, building upon a previous agreement signed during the Council for the Development of Digital Assets meeting attended by President Sadyr Japarov.

As part of this new partnership, Binance Pay will be introduced to facilitate seamless crypto transactions within the region, simplifying international money transfers and trade relations between Kyrgyzstan, neighboring Central Asian countries, and members of the Eurasian Economic Union (EAEU).

Kyrylo Khomiakov, Binance's Regional Head for CEE, Central Asia, and Africa, shared that the MoU signifies a joint effort to leverage blockchain technology for sustainable economic development, financial inclusion, and advancing financial freedom in Kyrgyzstan.

In addition to advancing crypto payments, the collaboration focuses on enhancing financial literacy. Binance Academy will work together with the Investment Agency to create educational programs tailored for institutions and the general public, equipping residents with knowledge on digital assets and Web3 technologies.

The educational courses will cover a wide range of topics, from basic cryptocurrency understanding to more intricate concepts in digital finance, with the ultimate goal of empowering local entrepreneurs and fostering innovation in Kyrgyzstan's tech industry.

Farhat Iminov, the head of the National Investment Agency, viewed the partnership as a forward-thinking approach towards building a resilient digital finance ecosystem, highlighting the importance of establishing a solid foundation for crypto adoption and enhancing financial awareness.

This collaboration underscores Binance's expanding role as a partner in crypto policy with governments. Earlier this year, Binance's founder, Changpeng Zhao, was appointed as a strategic adviser to Pakistan's Crypto Council and provided guidance to the Kyrgyzstan government on developing its blockchain and Web3 ecosystem.

Furthermore, Binance's CEO, Richard Teng, disclosed that the company is assisting multiple countries in exploring the concept of Strategic Bitcoin Reserves, following the footsteps of the United States.