Kyrgyzstan Launches $50M Gold-backed USDKG Stablecoin To Modernize Cross-border Payments

Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin pegged 1:1 to the U.S. dollar, with an initial issue of $50 million. The token is issued on Tron and fully audited by ConsenSys Diligence, with future expansion slated to include Ethereum support.
The issuer, OJSC Virtual Asset Issuer, is a state-owned entity under the Ministry of Finance, operating within the legal framework established by the 2022 Law on Virtual Assets of the Kyrgyz Republic.
The initiative represents a first-of-its-kind model in Central Asia, merging sovereign oversight with blockchain transparency.
Kyrgyzstan’s move comes as gold trades near record highs and central banks boost reserves amid geopolitical tensions. USDKG seeks to pair that safe-asset appeal with blockchain settlement, creating a hybrid tool for cross-border commerce.

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