Zhao Removes Denial of Bereket Bank Push for Binance Crypto
Changpeng Zhao deleted his post on X denying involvement in Bereket Bank after Kyrgyz President Sadyr Japarov claimed Zhao proposed the private crypto bank. Bereket Bank, approved by the National Bank of Kyrgyzstan and founded by Nurdoolot Japarov and Marat Sultanov, aims to attract foreign investment under Kyrgyzstan’s crypto strategy. Zhao had earlier refuted the reports, stating he supports crypto banking but has no interest in running a private crypto bank. During his May visit to Bishkek, he met President Japarov, served as strategic adviser to the National Council for Blockchain Development, and facilitated partnerships like Binance Academy’s ties with universities. Following his visit, Kyrgyzstan launched the KGST stablecoin on BNB Chain and outlined plans for a digital som CBDC by 2026. Law amendments are also underway to establish a state-backed crypto reserve and a centralized regulator. Traders may view this as a bullish signal for BNB, reflecting Binance’s regional expansion and growing crypto adoption.
Bullish
Approval of Bereket Bank and Zhao’s continued involvement signal strong institutional engagement in Kyrgyzstan’s crypto sector. In the short term, the launch of the KGST stablecoin on BNB Chain is likely to drive increased demand for BNB as liquidity and usage expand. Binance’s partnerships and advisory roles enhance the network effect, which could support upward price pressure. Over the long term, plans for a digital som CBDC and a state-backed crypto reserve point to sustained growth in blockchain infrastructure, further solidifying BNB’s utility and adoption. While regulatory clarity and centralized oversight may introduce compliance costs, the overall trajectory favors Binance’s token, making this news bullish for BNB.