PANews
PANews|Oct 08, 2026 02:31
[Kyrgyzstan Government Terminates National Stablecoin USDKG Operations and Liquidates Issuer Exchange] According to Bits Media, the Kyrgyzstan government has decided to terminate the operations of the national stablecoin Gold Dollar (USDKG) and instructed the Ministry of Finance to liquidate its issuer EVA and the country's first state-owned cryptocurrency exchange, Coin Nomad Exchange. The stablecoin was launched by the country's authorities in November 2025, initially positioned as the world's first state-issued stablecoin backed by physical gold and pegged 1:1 to the US dollar. The issuer was a state-owned company fully controlled by the Kyrgyzstan Ministry of Finance, originally named "Virtual Asset Issuer" (later renamed "EVA"), with a registered issuance volume slightly exceeding 50 million tokens. The token operated on the Tron blockchain. Authorities had previously positioned it as a cross-border settlement tool and planned to operate it at least until 2034.
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