Kyrgyzstan to issue gold-pegged US dollar stablecoin USDKG in Q3
2025-05-05 06:56:02
According to CoinDesk, Kyrgyzstan plans to launch a gold-backed stablecoin pegged to the U.S. dollar, the Gold Dollar (USDKG), in the third quarter. The stablecoin will be backed by $500 million in gold from the Kyrgyz Ministry of Finance, with plans to expand the reserve to $2 billion. Designed for cross-border transactions and international trade, the USDKG initially focuses on Central Asia and will expand to South East Asia and the Middle East in the future, the report said.
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