Kyrgyzstan launches $50M gold-backed USDKG stablecoin to modernize cross-border payments
Bishkek, Kyrgyz Republic – 29/11/2025 – (SeaPRwire) – Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin pegged 1:1 to the U.S. dollar, with an initial issue of $50 million. The token is issued on Tron and fully audited by ConsenSys Diligence, with future expansion slated to include Ethereum support.
The issuer, OJSC Virtual Asset Issuer, is a state-owned entity under the Ministry of Finance, operating within the legal framework established by the 2022 Law on Virtual Assets of the Kyrgyz Republic. The initiative represents a first-of-its-kind model in Central Asia, merging sovereign oversight with blockchain transparency.
The launch ceremony was attended by Sadyr Japarov, President of the Kyrgyz Republic, Almaz Baketaev, Minister of Finance, and Biibolot Mamytov, CEO o...
