Released in Kyrgyzstan stablecoin USDKG, backed by gold and pegged to the US dollar, was announced by the press service of the country’s president, Sadyr Japarov.
Crypto assets were issued on the blockchain Tron in the amount of 50 million USDKG.
Its launch opens new opportunities to strengthen Kyrgyzstan’s position in the global financial ecosystem. It creates the foundation for the development of Web3 infrastructure, an ecosystem of decentralized services that facilitate interaction between the public and private sectors through Block-solutions.
USDKG increases Kyrgyzstan’s investment attractiveness by creating conditions for capital inflows and technological partnerships. The introduction of a stablecoin backed by real assets strengthens trust in financial innovation and demonstrates that digital instruments can be backed by tangible assets and contribute to economic development, the company stated. State Service for Regulation and Supervision of Financial Markets.
In the future, the Ministry of Finance plans to list USDKG on centralized exchanges and decentralized platforms.
Currently, another national currency has been issued in Kyrgyzstan. stablecoin KGSToken (KGST), pegged to the local currency, the som, was developed on the BNB Smart Chain (BSC) platform in early November. It will subsequently be listed on local crypto exchanges in the CIS countries, and then on a number of international trading platforms, including Binance, Coinbase and others.