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06/11/25 08:41 UTC-04

Kyrgyzstan Registers Stablecoin USDKG

The authorities of Kyrgyzstan have officially registered the USDKG stablecoin, according to local media outlet Tazabek, citing data from the Financial Market Regulation and Supervision Service.

The Ministry of Finance stated that “the stablecoin has not yet been launched and is currently in the preparatory stage. Further information will be provided after the launch.”

The coin was registered by the State Financial Supervision Authority as part of a public offering by the organization ‘Issuer of Virtual Assets’.
According to the Ministry of Justice, the company was founded on December 25, 2024, and re-registered on January 20, 2025. Its main activity is software development, and its founder is the Ministry of Finance.

Earlier, Gabriel Guerra, an advisor to the USDKG project, said that the stablecoin would be pegged to the U.S. dollar and backed by $500 million worth of gold. The launch was initially planned for the third quarter of 2025. Holders of the token will be able to exchange it for gold, crypto assets, or fiat currency.

At the end of October 2025, Binance founder Changpeng Zhao announced that Kyrgyzstan had also launched the national stablecoin KGST and a central bank digital currency (CBDC) in partnership with Binance.
The token, pegged 1:1 to the Kyrgyz som, was issued on the BNB Chain, while the digital version of the som is ready for use in government payments.

See also: "Bitcoin Price Today: Recovery to $104K, But Market Remains Weak"

#Stablecoins #National

Editor: Yulia Krasnaya
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