Home » Binance CEO: This Country’s Pilot CBDC Program Will Be Implemented On BNB Chain – Bitcoin (BTC/USD)

Binance CEO: This Country’s Pilot CBDC Program Will Be Implemented On BNB Chain – Bitcoin (BTC/USD)

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binance CEO and co-founder Zhao Changpeng The National Bank of the Republic of Kazakhstan (NBK) has confirmed the integration of its Central Bank Digital Currency (CBDC) into the BNB chain. Blockchain underlying the Binance network.

Binance obtained its license to operate in Kazakhstan two weeks ago, and since then, company officials have met with Berik Sholpankulov, deputy to the NKB’s governor, and Binur Zhalenov, head of the payments and technology center. Did.

“We introduced them to the #BNB chain community and discussed testing to integrate CBDC (Digital Tenge) into @BNBCHAIN. We have launched CBDC pilots with merchants and merchants,” said Zhao. murmured on thursday.

“We look forward to seeing how NBK prepares CBDC use cases and integrates them into the #BNB chain to bridge the gap between traditional banks and the crypto ecosystem,” he added. I was.

Binance Partners with Kazakhstan Regulator

Earlier this month, it was a clear bid to offer the highest level of protection to local investors as they stepped into one of the largest digital asset ecosystems. Cryptocurrency The global exchange has partnered with Kazakhstan’s Financial Surveillance Authority.

Both sides will also closely monitor the use of cryptocurrencies by bad actors in illegal activities such as money laundering and terrorist financing. Such tokens will be blocked if found.

According to Tigran Ghambaryan, Vice President of Global Intelligence and Research at Binance, the trading platform has the strongest compliance program in the industry and is well equipped to handle the aforementioned obligations.

“I would like to express my appreciation for the cooperation and commitment of the Financial Supervisory Authority of the Republic of Kazakhstan to solve the problems of the rapidly growing cryptocurrency industry,” he said.

Also Read: Maybe Jeff Bezos Should Buy Ethereum: AWS Servers Host Big Chunks Of Cryptocurrency Computing Power

Kazakhstan & Web3

Kazakhstan’s pilot CBDC program is the country’s latest endeavor in the crypto space.

President Kassym-Jomart Tokayev said on 28 September: Kazakhstan We are nearing full legal approval as well as allowing a way to convert cryptocurrencies into cash.

He announced this after the country’s new crypto mining tax law was enacted in the summer.

After China and the United States, Kazakhstan is one of the top 3 places for Bitcoin mining in the world. Bitcoin/USD, according to To recent data on global crypto mining.

Next: Core Scientific Done? Bitcoin Miners Need Cash, Warn of Bankruptcy as Stocks Plunge

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