Binance Teams Up With Kyrgyzstan To Bring Crypto Payments

• Binance signed an MoU with Kyrgyzstan to expand crypto payments and blockchain education via Binance Pay and Binance Academy.
• Binance’s retail dominance hits 89.6%, showing most users are individuals, not institutions or large investors.

Crypto exchange Binance has signed a Memorandum of Understanding (MoU) with Kyrgyzstan’s National Investment Agency. The two parties want to build a more mature digital asset ecosystem in the Central Asian country.

Through this collaboration, Binance will introduce its Binance Pay payment service while also promoting blockchain education through Binance Academy. Kyrgyz President Sadyr Japarov was even present at the announcement of this collaboration, showing serious political support.

Just imagine if we could have coffee in Bishkek and pay directly with crypto from our phones—without the hassle of exchanging foreign currency or looking for an ATM. Well, that’s one scenario that Binance Pay wants to realize through the presence of Kyrgyzstan.

This technology is designed to make transactions faster, more concise, and suitable for locals and tourists who want to go digital. But Binance doesn’t just want to sell features. They also have an educational mission—working with universities and government agencies to provide basic understanding of blockchain to more people, especially the younger generation and Web3 startups.

Binance is Busy in Many Places

On the other hand, Binance is indeed busy. CNF reported that retail users dominate their platform at a staggering 89.6%. This means that the majority of transactions come from small wallets owned by individuals, not big institutions.

This could be a sign that the Binance ecosystem is increasingly dominated by everyday users who may be buying coins on a whim, or are looking for long-term opportunities. It’s not just about adoption, but also about user dynamics that change over time.

However, Binance is also facing legal issues in Nigeria. On April 30, 2025, the court postponed the trial of a tax case involving them until May 12. The Nigerian government accused Binance of playing a role in the fall of the naira exchange rate and is demanding a total of $81.5 billion in compensation.

This problem is further complicated by the fact that Binance does not have a physical office in Nigeria, while the Nigerian tax authorities want documents to be submitted via email only.

Furthermore, Binance.US has just reactivated full USD services for eligible customers. Since February 19, 2025, users can deposit and withdraw USD via bank transfer, buy crypto directly with USD, and even enjoy features such as recurring purchases and staking. This news is an uplifting moment for the crypto community in the US, which was previously confused by limited services.

And not long ago, on May 1, 2025, there was a surprise from Dubai. MGX, an investment fund backed by the United Arab Emirates government, announced plans to invest $2 billion in Binance. The funds will be channeled through the USD1 stablecoin—a dollar-based digital coin issued by World Liberty Financial, a company affiliated with the Trump family.

Eric Trump and Zach Witkoff even appeared live at the Token2049 conference to announce this. USD1 itself is fully guaranteed by US government bonds and cash equivalents, an approach that makes this stablecoin look quite convincing in a market that is increasingly sensitive to asset security.