The Ministry of Finance of Kyrgyzstan announces the detailed rules for the gold backed stablecoin USDKG

According to Finance Feeds, the Ministry of Finance of Kyrgyzstan has announced the details of the gold backed stablecoin USDKG, which will strictly anchor the physical gold reserves of the national treasury. Each USDKG corresponds to a specific quantity of gold, and the reserve is supervised by the National Treasury of the Kyrgyz Republic and subject to regular audits to ensure transparency. The government stated that this move aims to enhance financial inclusiveness, reduce transaction costs, and provide investors with anti volatility digital assets through blockchain technology. USDKG is expected to launch a blockchain platform in the coming months and is currently working with commercial banks and other institutions to promote system integration. The country hopes that this golden endorsement model can provide a model for digital economic innovation in Central Asia. Kyrgyzstan has been continuously promoting financial modernization reforms in recent years, and its gold reserves will rank 58th in the world by 2024 (according to the World Gold Council data). Previously, it was reported that Kyrgyzstan will launch a US dollar stablecoin USDKG in Q3, supported by the country's gold reserves.