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Kyrgyzstan Launches USDKG as First Gold-Backed Government Stablecoin

Kyrgyzstan Launches USDKG as First Gold-Backed Government Stablecoin

Author:

Global Cryptocurrency

Published:

2025-11-07 00:38:02

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BTCCSquare news:

Kyrgyzstan has unveiled USDKG, the world's first gold-backed government stablecoin pegged to the US dollar. The Ministry of Finance confirmed the rollout, emphasizing its blockchain transparency and $500 million Gold reserve backing. This initiative aims to bolster cross-border trade and financial sovereignty, operating independently from other digital currency projects like the digital som.

The State Service for Regulation and Supervision of Financial Markets approved USDKG's issuance, with OJSC 'Issuer of VIRTUAL Assets'—a government-owned entity—handling distribution. The coin is fully collateralized by gold and maintains a 1:1 peg to the USD, marking a strategic leap in the country's digital finance reforms.

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