President Sadyr Japarov stated Binance founder Changpeng Zhao proposed establishing the privately funded Berекет Bank to focus on cryptocurrency and virtual asset operations in Kyrgyzstan.
According to Kyrgyzstan's President Sadyr Japarov, Binance founder Changpeng “CZ” Zhao proposed creating a private bank that would handle cryptocurrency transactions. This idea led to the formation of Berекет Bank, which will operate without public funds, specialize in virtual assets, and seek to attract foreign investment to Kyrgyzstan.