Published
11/11/2025, 14:36The Financial Market Regulation and Supervision Service has disclosed the volume of the first state-backed stablecoin USDKG, secured by physical gold. It was registered in the Unified State Register of Virtual Asset Issues on 31 October.
The issue amounted to 50 million 140 thousand 738 USDKG stablecoins, each with a nominal value of $1. Thus, the total issue volume is $50.1 million.
In KGS, the amount was 4.38 billion. This corresponds to the amount of state duty paid — 438,480.8 KGS (0.01% of the issue volume).
The issuer is OJSC ‘Virtual Asset Issuer’, whose sole founder is the Ministry of Finance of the Republic. It is currently being prepared for listing on centralised and decentralised exchanges.
We would like to add that Kyrgyzstan has also launched a national stablecoin, KGST, but it is pegged to KGS.
