| Developers: | Ministry of Finance of the Kyrgyz Republic |
| Branches: | Financial Services, Investments and Auditing |
2025: Product Announcement
In early May 2025, the Ministry of Finance of Kyrgyzstan announced the launch of the USDKG stablecoin, secured by gold and tied to the US dollar. The new cryptocurrency is planned for release in the third quarter of 2025 and will be used mainly for cross-border transfers, with an initial collateral of $500 million in gold.
According to CoinDesk, this information was reported by project adviser Gabriel Guerra at the Token2049 conference in Dubai. According to him, in the future, the volume of stablecoin support is planned to increase to $2 billion. All USDKG reserves will be independently audited to ensure transparency and trust in the new digital currency.
USDKG stablecoin will be used primarily in cross-border transactions and international trade with an initial focus on Central Asia. In the later stages of the project, expansion into Southeast Asia and the Middle East is planned.
The launch of the national stablecoin is part of Kyrgyzstan's broader strategy for the development of the digital asset sector. On May 3, 2025, President Sadyr Japarov met with Binance crypto exchange founder Changpen Zhao, who had previously been appointed public adviser to the president on digital asset development.
On May 4, 2025, Binance signed a Memorandum of Understanding with the National Investment Agency under the President of Kyrgyzstan. The signing ceremony was held in the presence of President Japarov as part of the first meeting of the Digital Asset Development Council. The agreement provides for the development of a strategic partnership in the field of digital assets.
Director of the National Investment Agency Farkhat Iminov identified as priority areas not only the release of stablecoin, but also the creation of digital catfish. Another important task will be the formation of a cryptocurrency reserve in Kyrgyzstan. As part of this initiative, it is planned to study international experience and cooperate with partners from Binance and BNB Chain on the definition of the reserve structure, risk assessment and the implementation of international safety and transparency standards.[1]
Notes
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