Analysis: USDKG, a stablecoin backed by gold, may become the legal tender of Kyrgyzstan

According to a report by Golden Finance, the gold backed stablecoin USDKG endorsed by the Kyrgyz government may become the country's legal tender within three months, and is currently undergoing an audit process by the "Big Four" accounting firms. USDKG advisor William Campbell introduced that the stablecoin is pegged 1:1 to the US dollar but supported by physical gold reserves, and will undergo an audit every six months and publicly disclose the results on the blockchain.