The Kyrgyz authorities have registered the USDKG stablecoin. It is backed by gold and pegged to the US dollar in a 1:1 ratio. The gold security is about $500 million with the prospect of increasing reserves to $2 billion.
The Ministry of Finance of Kyrgyzstan is the main issuer, and the project is supported by independent audits to ensure transparency and trust in reserves.
USDKG will be used to simplify international settlements, cross-border transfers, and as legal tender in the country. Owners will be able to exchange the token for gold, other crypto assets, or fiat money.
