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The Ministry of Finance has issued the first stablecoin, USDKG, with registration confirmed by the Financial Supervisory Authority
Image source: DALL·E

Published

11/05/2025, 14:31

The Ministry of Finance has issued the first stablecoin, USDKG, with registration confirmed by the Financial Supervisory Authority

Kyrgyzstan has officially issued its first national stablecoin, the USDKG, backed by gold. The issue was registered by the Financial Market Regulation and Supervision Service between 27 and 31 October.

In particular, Finnadzor conducted state registration of the first issue of USDKG stablecoins during a public offering by the company Emitent Virtual Assets.

The company was registered in December 2024 and re-registered in January 2025. The public limited company is engaged in software development. According to the registration documents, its sole founder is the Ministry of Finance. This makes the stablecoin issue the first state digital asset in the country's history.

According to the Open Budget portal, the issue cost 438,480.75 KGS, which was paid into the budget.

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