The number of cryptocurrency exchanges in Kyrgyzstan has increased more than 13-fold

The number of licensed virtual asset exchange operators in Kyrgyzstan has increased more than 13-fold over the past three years. Whilst there were previously six such companies operating in the country, their number has now reached 82.

At the same time, the volume of transactions in the market is also growing. According to the Financial Market Regulation and Supervision Service, in 2025 nearly 2.73 trillion KGS passed through virtual asset service providers, which corresponds to approximately $30 billion.

Over 94 per cent of these transactions involved the conversion of virtual assets into fiat currency and vice versa. In other words, the market is growing not only through traditional cryptocurrency trading, but also through transactions linking digital assets to the traditional financial system.

At a global level, Binance Research has observed a similar transformation. According to the company, crypto exchanges are gradually moving away from the model of being purely trading platforms and are evolving into financial platforms where users can simultaneously manage digital assets, stablecoins and payment instruments.