Kyrgyzstan has become the first country in the world to officially register a state-issued stablecoin backed by physical gold, the Ministry of Finance of Kyrgyzstan announced, according to Economist.kg.
The new digital asset, named USDKG, was registered by the State Service for Regulation and Supervision of the Financial Market. The token is pegged to the US dollar at a rate of 1 USDKG = 1 USD and is fully backed by gold reserves held under government control.
The first issuance and listing of USDKG on centralized and decentralized trading platforms are scheduled in the coming days. The Ministry of Finance stated that detailed information on the volume, mechanism, and launch date will be published separately.
According to the ministry, the project combines the reliability of gold with the transparency of blockchain technology, marking a new phase in the country’s digital economy and financial sovereignty.
Officials also noted growing international interest in the initiative and expect that the launch of USDKG will strengthen Kyrgyzstan’s position as a regional hub for financial innovation and help attract foreign investment.
The ministry clarified that USDKG is not connected to previously discussed projects — the KGST stablecoin or the digital som, which are being developed under the National Council for Virtual Assets and Blockchain Technologies.
CentralasianLIGHT.org
November 6, 2025