Kyrgyzstan’s stablecoin to hit global exchanges
Image: unchainedcrypto.com
Kyrgyzstan’s national stablecoin, USDKG, has completed its first issuance, Cabinet Chairman Adylbek Kasymaliev announced at the Jogorku Kenesh.
Kasymaliev explained that each USDKG token is backed by physical gold, with one token equal to one US dollar, News.Az reports, citing Kyrgyz media.
A total of 50 million tokens have been issued.
He also highlighted ongoing work on the KGST stablecoin, which will be pegged to Kyrgyzstan’s national currency. “We plan to list it on international exchanges by the end of the year,” the Cabinet Chairman said.
Similar news
