The goal is to simplify domestic transactions and support international payments within the Eurasian Economic Union, which includes Kyrgyzstan, Kazakhstan, Russia, Armenia, and Belarus.
This might be a move to bypass SWIFT since some of the nations listed here are under severe financial sanctions. Russia and Belarus have been heavily sanctioned since the invasion of Ukraine by Russia.
According to the National Investment Agency, the cooperation will help expand access to financial tools and bring additional transparency to cross-border transactions. Binance confirmed the collaboration would focus on developing crypto infrastructure, with support from both government and private sector partners.
Although this collaboration is moving the country towards centralization. Anyway, this is a good move by Kyrgyzstan because it is giving them an option that is different from fiat.