According to Decrypt, Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin, with a total issuance volume of $50 million. Pegged to the U.S. dollar at a 1:1 ratio, the stablecoin is issued by a state-controlled institution and fully backed by physical gold reserves. The initial issuance operates on the Tron blockchain, has been audited by ConsenSys Diligence, and will be expanded to Ethereum in the future.  

The issuer of USDKG, OJSC Virtual Asset Issuer, is under the jurisdiction of Kyrgyzstan’s Ministry of Finance and operates in full compliance with the 2022 *Virtual Assets Law*. It is the first stablecoin project in Central Asia to adopt the 'state supervision + on-chain transparency + gold backing' model.