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 reserves are $300 million, with plans to expand to $2 billion. This project is authorized and supported by the Kyrgyz Ministry of Finance, financed by purchasing gold from the National Bank. USDKG uses an over-collateralization model to deal with fluctuations in gold prices, and holders can exchange for physical gold, cryptocurrency, or fiat currency. The plan aims to improve cross-border payment infrastructure in Central Asia and promote international trade, and will undergo independent third-party audits in the future to ensure transparency.
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Kyrgyz Republic to launch gold-backed stablecoin pegged to dollar in Q3
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