In what is turning into a controversial statement, Kyrgyzstan’s President Sadyr Japarov in a recent interview, claimed that the country has formed a new banking institute on the suggestion of Binance’s Changpeng Zhao. Kyrgyz state news agency Kabar quoted Japarov describing ‘Bereket Bank’ as a private business project expected to bring significant foreign investment into Kyrgyzstan.
The President acknowledged questions around the bank’s founding shareholders, including references to his own son’s involvement in the project. When asked whether his son was qualified to run a bank, the President responded, saying that he didn’t want his family to be involved in politics and that his sons have an economics and finance degree. “The Kyrgyz people will benefit from this effort,” he added.
CZ denies role in Bereket Bank
Shortly after the President’s remarks, Binance founder CZ took to X to deny any personal involvement in the formation of Bereket Bank. He clarified that while Binance remains active in global digital-asset initiatives, he did not propose or establish this bank. He went on to add that he may have said something like “I wish there to be as many digital banks supporting crypto as possible.”
Kyrgyzstan’s crypto landscape
Kyrgyzstan has been moving rapidly in the digital assets space. The government is preparing a central bank digital currency (CBDC) and a national stablecoin launched on Binance’s BNB Chain. In addition, the country now permits banks to custody cryptocurrencies and is developing aregulatory framework for virtual-asset service providers (VASPs).
While President Japarov’s announcement signals Kyrgyzstan’s ambition to embrace digital finance, CZ’s swift denial highlights the sensitivity surrounding crypto founders’ perceived influence in global policymaking.