Kyrgyzstan Registers Gold-Backed USDKG Stablecoin in Pioneering Move
Kyrgyzstan's Ministry of Finance has officially registered USDKG, positioning it as the world's first state-sponsored stablecoin fully collateralized by physical gold reserves. The dollar-pegged cryptocurrency will launch imminently under supervision of the country's financial regulator.
The gold-backed digital asset marks Kyrgyzstan's second major stablecoin initiative following A7A5, the dominant Russian ruble-denominated stablecoin operating in Central Asia. Treasury officials confirm USDKG will maintain a 1:1 dollar peg through bullion reserves controlled by the state.
Initial issuance and exchange listings are scheduled within days, though specific trading platforms remain undisclosed. The project forms part of a broader pilot program exploring blockchain's potential in sovereign finance.
