{"id":508997,"date":"2025-11-03T09:10:39","date_gmt":"2025-11-03T09:10:39","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=1225936"},"modified":"2025-11-03T09:10:39","modified_gmt":"2025-11-03T09:10:39","slug":"binance-founder-cz-denies-role-in-kyrgyzstans-new-bereket-crypto-bank-after-presidents-claim","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2025\/11\/03\/binance-founder-cz-denies-role-in-kyrgyzstans-new-bereket-crypto-bank-after-presidents-claim\/","title":{"rendered":"Binance Founder CZ Denies Role in Kyrgyzstan\u2019s New \u2018Bereket\u2019 Crypto-Bank After President\u2019s Claim"},"content":{"rendered":"<ul>\n<li><b>Changpeng Zhao denied reports that he had proposed creating a crypto bank in Kyrgyzstan, calling the claims inaccurate.<\/b><\/li>\n<li><b>The rumor started after Kyrgyz President Sadyr Japarov mentioned Zhao in connection with a planned Bereket Bank project.<\/b><\/li>\n<\/ul>\n<hr>\n<p><span>Binance co-founder Changpeng Zhao (CZ) has refuted rumors that he proposed establishing a private cryptocurrency bank in Kyrgyzstan, calling them inaccurate and exaggerated. The controversy started when Kyrgyz President Sadyr Japarov mentioned CZ in reference to an institution called Bereket Bank.<\/span><\/p>\n<h3><strong>CZ Calls Reports \u201cIncorrect\u201d and Downplays Speculation<\/strong><\/h3>\n<p><span>CZ responded to the allegations directly on X, stating that he never proposed the creation of a bank in Kyrgyzstan.\u201cThis isn\u2019t correct. Not quite \u20184\u2019 FUD level, but still wrong. I never proposed creating a bank myself,\u201d he wrote.<\/span><\/p>\n<p><span>Zhao explained that although he is open to traditional banks cooperating with the <a href=\"https:\/\/www.crypto-news-flash.com\/crypto-news-a16z-outlines-the-future-of-crypto-iota-has-been-building-it-all-along\/\" target=\"_blank\" rel=\"noopener\">crypto space,<\/a> he has no plans to operate such a bank himself.<\/span><\/p>\n<figure class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class src=\"https:\/\/www.cryptotimes.io\/wp-content\/uploads\/2025\/11\/image-7.png\" alt=\"Cz Post On X\" width=\"417\" height=\"704\"><figcaption class=\"wp-caption-text\">Source:X<\/figcaption><\/figure>\n<p><span>He added that the name mentioned in reports was unfamiliar to him, and he only made general comments on encouraging banks to embrace digital assets. The exchange founder later joked in a follow-up post, responding to a user\u2019s comment about him starting a lemonade stand in Bishkek, saying, \u201cI might have \u2018proposed\u2019 that.\u201d<\/span><\/p>\n<h3><strong>Origin of the Bereket Bank Rumors<\/strong><\/h3>\n<p><span>The confusion stems from recent remarks by President Japarov in which he <\/span><a href=\"https:\/\/kabar.kg\/news\/sadyr-zhaparov-elden-zhashyra-turchu-ech-nersebiz-zhok\/\" target=\"_blank\" rel=\"nofollow noopener\"><span>said<\/span><\/a><span> CZ had proposed a new financial institution that would attract foreign capital and serve as a hub for digital asset operations.<\/span><\/p>\n<p><span>Japarov says he would have preferred to open a state-owned bank, but when CZ rejected the idea, \u201cwe agreed to open a private bank,\u201d which became Bereket Bank.<\/span><\/p>\n<p><span>The head of state stressed that the bank is a private business project that is expected to attract considerable investment into the country. Amid widespread backlash and reports from online fact-checkers connecting him to the private digital asset bank, CZ had deleted the tweet by press time.<\/span><\/p>\n<p><span>Bereket Bank, founded by former Parliament Speaker Marat Sultanov and Nurdoolot Nurgozhoyev, is set to operate as a private commercial entity under Kyrgyzstan\u2019s 2022 Virtual Assets Law that regulates the activities of digital asset service providers (VASPs).<\/span><\/p>\n<p><span>The bank will offer conventional financial services, including loans, deposits, and remittances, as well as crypto-oriented services such as custody solutions, blockchain-based payments, and stablecoin management.<\/span><\/p>\n<h3><strong>Binance\u2019s Ongoing Partnership With Kyrgyzstan<\/strong><\/h3>\n<p><span>Although Zhao denied claims of opening a bank, his relationship with Kyrgyzstan remains active through ongoing cooperation. In April, he signed a memorandum of understanding with the country\u2019s foreign investment agency to provide advice on blockchain technology and the regulation of digital assets.<\/span><\/p>\n<p><span>Since then, Binance has backed several national initiatives, including the launch of a stablecoin pegged 1:1 to the Kyrgyzstani som. The token, KSGT, was launched in October and runs on<a href=\"https:\/\/www.crypto-news-flash.com\/bnb-chain-to-power-kyrgyzstans-national-stablecoin-as-the-country-eyes-cbdc\/\" target=\"_blank\" rel=\"nofollow noopener\"> Binance\u2019s BNB Chain.<\/a> At the time of its implementation, Zhao stated that BNB would also be part of the country\u2019s digital reserve framework.<\/span><\/p>\n<p><span>In parallel, Kyrgyzstan has been introducing <a href=\"https:\/\/www.crypto-news-flash.com\/binance-and-sharjah-university-join-forces-for-web3-education\/\" target=\"_blank\" rel=\"nofollow noopener\">Binance Academy resources<\/a> to ten universities to expand blockchain education. The Binance app is also being localized to make it more accessible for Kyrgyz users. <\/span><\/p>\n<p> <a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Changpeng Zhao denied reports that he had proposed creating a crypto bank in Kyrgyzstan, calling the claims inaccurate. The rumor started after Kyrgyz President Sadyr Japarov mentioned Zhao in connection with a planned Bereket Bank project. Binance co-founder Changpeng Zhao (CZ) has refuted rumors that he proposed establishing a private cryptocurrency bank in Kyrgyzstan, calling [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":508998,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[18963,2962,25],"class_list":{"0":"post-508997","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-changpeng-cz-zhao","9":"tag-kyrgyzstan","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/508997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=508997"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/508997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/508998"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=508997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=508997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=508997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}