The Government of Bhutan has issued a blockchain Solana (SOL) gold stablecoins called TER, following the example of Kyrgyzstan.
The cryptocurrency was issued by the Gelephu Special Administrative Region, which ensures the stability of the coins’ value with a reserve of precious metal. Tokens can only be purchased through the digital bank DK Bank, which also provides coin storage services. The financial platform Matrixdock provided the infrastructure for gold tokenization.
TER digital assets are not yet visible in the block explorer Solana, so it’s unknown how many have been issued and who owns them. Apparently, the stablecoins will be held on DK Bank’s balance sheet, as the coins purchased by investors will remain under the bank’s control during the first phase of the project.
Unlike TER, whose price must correspond to the value of a certain amount of gold, the Kyrgyz kriptovalyuta Gold Dollar (USDKG) tied to the US dollar exchange rate, but is backed by precious metal reserves.
The capitalization level of USDKG created in the blockchain TRON (TRX), currently valued at $50 million. Gold Dollar’s circulating supply is expected to reach 500 million coins in the near future, and the issuer expects to increase its supply to $2 billion in the long term. This would place USDKG seventh in market capitalization, behind World Liberty Financial USD (USD1).
Leading Stablecoins by Capitalization