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Kyrgyzstan issues Tron-based gold stablecoin USDKG
Source: DigitalToday Original Title: Kyrgyzstan Issues Tron-Based Gold Stablecoin USDKG Original Link:
Kyrgyzstan has officially launched the gold-backed stablecoin 'USDKG'.
According to blockchain media, this issuance is regarded as a signal that Kyrgyzstan is officially entering the global financial market. The issuance of 50 million USDKG tokens on the Tron blockchain took place with the attendance of Kyrgyzstan President Sadir Japarov and Finance Minister Almaz Baketaev. Each token is pegged to a value of 1 dollar and is backed by gold.
The Kyrgyz government plans to enhance its presence in the global financial network through USDKG and promote the development of Web3 services. Additionally, it aims to expand blockchain-based collaboration between the public and private sectors and accelerate the attraction of international investment. The Kyrgyz Ministry of Finance stated that this project is separate from the digital som ( KGST ), and the latter is still under review as a central bank digital currency ( CBDC ).