Kyrgyzstan issues national stable currency USDKG, with the first batch of approximately 50.14 million coins

According to Foresight News, according to Reuters, Kyrgyzstan announced the launch of USDKG, a national stablecoin backed by gold reserves and anchored 1:1 with the U.S. dollar. The first batch of issuance exceeds 50 million U.S. dollars (a total of 50,140,738 coins). It is issued by a state-owned enterprise controlled by the Ministry of Finance and is mainly used for cross-border payments and international trade. The Treasury plans to increase support reserves to $2 billion. In addition, the country’s government has ordered a nationwide suspension of crypto mining operations due to power shortages.
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