Kyrgyz Republic Approves Nano Labs CNH-Pegged Stablecoin Launch

Nano Labs, a China-based Web 3.0 infrastructure firm, has received official approval from the Kyrgyz Republic to launch a stablecoin pegged to the offshore Chinese yuan (CNH). The initiative aims to enhance cross-border digital payments between Kyrgyzstan and China, facilitating trade, investment, and financial transparency while reducing reliance on traditional banking systems and lowering transaction costs. Approval came from key Kyrgyz authorities including the National Investment Agency and the National Council on the Development of Virtual Assets and Blockchain Technologies after review by the Presidential Administration. Nano Labs will submit detailed technical documentation and a white paper to ensure regulatory compliance and smooth project execution. The company has decided to forgo similar plans in Hong Kong and instead focus on stablecoin initiatives in countries participating in China’s Belt and Road Initiative, reflecting Kyrgyzstan’s greater openness to blockchain innovation. Nano Labs is also known for its development of high-performance computing chips for blockchain and AI applications and holds reserves in major digital currencies including Bitcoin and Binance Coin.