Kazakhstan testing national CBDC on BNB chain

The chief executive officer of Binance exchange informed his followers about the contribution of the BNB chain at the real level development of Kazakhstan’s national digital currency.

Binance is a first-ranked crypto exchange, in terms of 24 hours global trade volume. BNB is a native coin of Binance exchange and BNB coin lives on Bep2 & Bep20 chain. Trust wallet, a decentralized Binance-owned crypto wallet & this wallet uses BNB coin as a native token. Binance Smart Chain (BSC) network is known as the best crypto network for Binance users because of its very low transaction fees. Binance exchange always remains ready to invest in innovative crypto projects & also to push crypto adoption via perfect educational programs.

On 26 October, Changpeng Zhao, CEO & founder of Binance exchange, took to Twitter to inform the crypto community that the BNB chain team is working with the government agencies of Kazakhstan to test the national Central Bank Digital Currency (CBDC) or say Digital Tenge.

Zhao said:

“(Binance) team met with the First Deputy of the Governor of the National Bank of Kazakhstan (NKB), Berik Sholpankulov, and the Head of Payment and Technological Center, Binur Zhalenov.”

Further Binance CEO said that the team discussed using the BNB chain to test Kazakhstan’s Digital Tenge, as the National Bank of Kazakhstan launched a CBDC pilot program.

Now, the BNB chain team is looking forward to the NKB, which will take action to create some innovative use cases with CBDC, to fill the gap between traditional & digital financial systems.

BNB coin

The current price of the BNB coin is $289, which is a 6.50% high over the last 7 days of trade price.

Read also: Hoskinson indirectly criticizes Cardano’s critics following NFTs growth