Kyrgyzstan has officially launched USDKG, the world’s first government-issued stablecoin fully backed by physical gold, according to the country’s Ministry of Finance.
The stablecoin, registered by the State Service for Regulation and Supervision of the Financial Market, is pegged to the U.S. dollar at 1 USDKG = 1 USD. Officials say every token is secured by gold under state control, combining the reliability of a traditional reserve asset with blockchain transparency.
The first issuance and listings on centralized and decentralized exchanges are expected in the coming days. Authorities describe the project as part of a national pilot aimed at...