Core Viewpoint - Nano Labs Ltd has received approval from the Kyrgyz Republic to issue a stablecoin pegged to the offshore Chinese Yuan (CNH), aiming to enhance trade and economic cooperation between China and Kyrgyzstan [1][2][3] Group 1: Project Details - The stablecoin project is designed to facilitate cross-border settlements, expand investment opportunities, and increase transparency in digital financial operations [3] - Nano Labs will submit a comprehensive white paper and key technical documentation as per the recommendations from Kyrgyz authorities [4] Group 2: Strategic Decisions - The company has decided to forgo plans for an HKD- or CNH-pegged stablecoin project in Hong Kong SAR, redirecting resources towards stablecoin initiatives in Belt and Road countries [5] Group 3: Company Background - Nano Labs Ltd is a leading provider of Web 3.0 infrastructure and product solutions in China, focusing on high throughput computing (HTC) and high performance computing (HPC) chips [6] - The company has established a comprehensive flow processing unit (FPU) architecture and is actively involved in the digital assets space, holding reserves in BNB and BTC [6][7]