Kyrgyzstan launches first issue of gold-backed stablecoin USDKG
22.11.2025 15:31
Kyrgyzstan has launched the first issue of its national stablecoin USDKG, a digital token backed by physical gold and pegged to the US dollar, according to the press service of the president of the republic.
On Thursday, an official ceremony was held at the presidential administration in Bishkek, attended by Head of State Sadyr Zhaparov. During the event, participants symbolically pressed the launch button, after which 50 million USDKG tokens were released into circulation on the Tron network, each of which corresponds to one US dollar and is fully backed by gold reserves.
According to the report, USDKG is designed as a transparent, secure, and stable digital currency that combines the reliability of gold with the efficiency of blockchain technology. The launch of the stablecoin should strengthen Kyrgyzstan's position in the global financial ecosystem and lay the foundation for the development of Web3 infrastructure and decentralized services through which government agencies and businesses will be able to interact on the basis of blockchain solutions.
The presidential administration notes that the new instrument is designed to increase the country's investment attractiveness by creating conditions for capital inflows and technological partnerships. The authorities expect that the availability of a stablecoin backed by real assets will strengthen confidence in financial innovations and demonstrate the possibility of combining digital tools with material support in the interests of sustainable economic development.
The issuer of USDKG is JSC “Virtual Asset Issuer” with 100% state participation. The ceremony was attended by Kyrgyzstan's Minister of Finance Almaz Baketaev and the company's CEO Biibolot Mamytov, as well as representatives of the Gold Dollar project, who are involved in the technical and international aspects of the stablecoin's implementation. In official materials, the project is positioned as the world's first state-owned stablecoin backed by physical gold and pegged to the US dollar.
Теги: stablecoin USDKG Kyrgyzstan Переглядів: 85