PANews reported on May 30 that according to Finance Feeds, the Ministry of Finance of Kyrgyzstan announced the details of the gold-backed stablecoin USDKG, which will be strictly anchored to the physical gold reserves in the national treasury. Each USDKG corresponds to a specific amount of gold, and the reserves are supervised by the National Vault of the Kyrgyz Republic and subject to regular audits to ensure transparency. The government said the move is aimed at improving financial inclusion and reducing transaction costs through blockchain technology, while providing investors with anti-volatility digital assets.

USDKG is expected to launch the blockchain platform in the next few months and is currently working with commercial banks and other institutions to promote system integration. The country hopes that this gold-backed model can provide a model for digital economic innovation in Central Asia. Kyrgyzstan has continued to promote financial modernization reforms in recent years, and its gold reserves ranked 58th in the world in 2024 (World Gold Council data).

Earlier news said that Kyrgyzstan will launch the US dollar stablecoin USDKG in Q3, which will be supported by the country's gold reserves .