Kyrgyzstan will launch a gold stablecoin pegged to the US dollar in the third quarter
2025-06-09 14:04:47
The Kyrgyz Republic will launch the USDKG stablecoin in the third quarter of 2025, which is pegged 1:1 to the US dollar and backed by physical gold. The initial gold reserve is 300 million US dollars, with plans to expand to 2 billion US dollars. The project is supported by a mandate from the Kyrgyz Ministry of Finance and is financed by purchasing gold from the national bank. USDKG uses an overcollateralized model to cope with gold price fluctuations, and holders can exchange physical gold, cryptoassets or fiat currencies. The program aims to improve cross-border transfer infrastructure in Central Asia and facilitate international trade. In the future, it will be subject to independent third-party audits to ensure transparency.
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