Kyrgyzstan officially launched a gold-backed stablecoin
Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin pegged 1:1 to the USD, with an initial issuance of $50 million, according to PR shared with crypto.news.
- USDKG is pegged 1:1 to the U.S. dollar and fully backed by gold reserves.
- State-owned issuer aims to expand reserves to $500 million and later $2 billion.
- The project marks Central Asia’s first state-supervised, gold-backed digital currency.
USDKG is built on the Tron blockchain and audited by ConsenSys Diligence, with future support planned for Ethereum.
Tokens are issued by a state-owned company under the Ministry of Finance, OJSC Virtual Asset Issuer. However, it’s not a CBDC. Officials say the move represents a first for Central Asia — merging government oversight with blockchain transparency.
As stated, he project is fully compliant with international anti-money laundering and know-your-customer standards, and each USDKG “fully backed by physical gold reserves.”
The stablecoin’s backers plan to expand its gold reserves to $500 million, with a long-term goal of $2 billion. Authorities say USDKG is designed to improve financial inclusion and payment efficiency while maintaining full transparency.
Kyrgyzstan is one of the first countries in the region to establish a comprehensive digital-asset regulatory framework.
In September, the Kyrgyz Parliament adopted a set of amendments to its “On Virtual Assets” law in three readings. Economy Minister Bakyt Sydykov introduced the bill.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Infrastructure-Focused Economic Growth in Webster, NY
- Webster , NY leverages $9.8M FAST NY grant to upgrade infrastructure, targeting industrial growth via Xerox campus redevelopment and blight removal. - Xerox's 300-acre brownfield site transforms into a $650M industrial hub by 2025, creating 250 jobs at fairlife® dairy facility with enhanced utilities. - Blight removal at 600 Ridge Road and $1.8M road realignment projects unlock 300 acres for development, improving logistics and downtown connectivity. - WEDA and municipal coordination streamline land sale
BNB News Today: BNB Jumps 4%—Is This a Bullish Breakout or the Start of a Bearish Trend?
- BNB surged 4% on Nov 24, 2025, driven by a break above its 50-day SMA, signaling renewed buying pressure and bullish momentum. - Key technical levels at $860 (support) and $920 (20-day EMA) highlight potential for reversal or pullback, with volume/on-chain data critical for confirmation. - Market optimism stems from BNB Chain upgrades, DeFi growth, and macro factors like BNP Paribas' $1.15B buyback, indirectly boosting investor sentiment. - Future gains depend on ecosystem scalability, cross-chain adopti
Tech Issues Compel MegaETH to Return $500M After $1B Fundraising Mishap
- MegaETH refunds $500M after technical errors in KYC system and multisig transaction caused its $1B fundraising to exceed limits. - Project admits "sloppy execution" led to premature cap increase and user exploitation during pre-deposit phase. - Crypto community reacts with criticism over preventable mistakes, while praising transparency in disclosing failures. - Parallel Berachain case highlights industry risks through unusual $25M refund clause with unverified compliance requirements. - Incidents unders
Deciphering How Municipal Infrastructure Grants Influence Real Estate Growth and Investment Prospects
- New York's FAST NY program allocated $283M to transform 7,700 acres of industrial land into "shovel-ready" sites for high-tech manufacturing and semiconductors . - Infrastructure upgrades like water/sewer systems directly increased land values by 20% in industrial zones, attracting anchor tenants like Chobani and Micron . - 2025 tax reforms (100% bonus depreciation) amplified private investment, with Q3 2025 real estate deals hitting $310B as manufacturers targeted upgraded sites. - Critics highlight rur
Trending news
MoreCrypto prices
More
