Kyrgyzstan has formally launched USDKG, a gold-backed stablecoin pegged 1:1 to the USD, with an preliminary issuance of $50 million, in response to PR shared with crypto.information.
Abstract
- USDKG is pegged 1:1 to the U.S. greenback and totally backed by gold reserves.
- State-owned issuer goals to increase reserves to $500 million and later $2 billion.
- The undertaking marks Central Asia’s first state-supervised, gold-backed digital forex.
USDKG is constructed on the Tron blockchain and audited by ConsenSys Diligence, with future help deliberate for Ethereum.
Tokens are issued by a state-owned firm beneath the Ministry of Finance, OJSC Digital Asset Issuer. Nevertheless, it’s not a CBDC. Officers say the transfer represents a primary for Central Asia — merging authorities oversight with blockchain transparency.
As acknowledged, he undertaking is totally compliant with worldwide anti-money laundering and know-your-customer requirements, and every USDKG “totally backed by bodily gold reserves.”
The stablecoin’s backers plan to increase its gold reserves to $500 million, with a long-term aim of $2 billion. Authorities say USDKG is designed to enhance monetary inclusion and fee effectivity whereas sustaining full transparency.
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Kyrgyzstan is without doubt one of the first nations within the area to determine a complete digital-asset regulatory framework.
In September, the Kyrgyz Parliament adopted a set of amendments to its “On Digital Belongings” regulation in three readings. Economic system Minister Bakyt Sydykov launched the invoice.
