Bloomberg takes interest in Kyrgyzstan's first state-backed stablecoin, USDKG

Azamat Abdybapov, Head of the Public Debt and Assets Department at the Ministry of Finance, and Bakyt Mamytov, CEO of Emitent Virtual Assets OJSC, spoke to Bloomberg about government Eurobonds and the first government stablecoin.

During the conversation, the ministry representative noted that improved fiscal and macroeconomic indicators, as well as increased investor confidence, allowed Kyrgyzstan to issue sovereign Eurobonds on the international capital market for the first time.

“The capital raised will be used to develop infrastructure, energy, and strengthen the financial sector,” Abdybapov said.

A separate section discussed the launch of the USDKG state stablecoin, backed by physical gold.

Bakyt Mamytov, CEO of OJSC “Virtual Asset Issuer,” explained that the project is seen as a strategic tool for developing cross-border payments, increasing investment attractiveness, and strengthening the country's financial sovereignty.

The full version of the interview with Azamat Abdybapov and Bakyt Mamytov will be published by Bloomberg next week.