16:26 - 5.05.2025

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May 5, Fineko/abc.az. Kyrgyzstan intends to launch a gold-backed USD KG stablecoin pegged to the US dollar exchange rate in the 3rd quarter of this year.

ABC.AZ informs that the project to launch the token is being implemented with the support of the country's Ministry of Finance, which will provide $500 million as an asset reserve, and in the future the amount of collateral will be increased to $2 billion. The reserves will be independently audited. Initially, the stablecoin is to be used for cross-border transfers and international trading activities in Central Asia, with subsequent expansion to countries in Southeast Asia and the Middle East.