According to BlockBeats news on May 5th, Kyrgyzstan plans to launch a gold-backed stablecoin pegged to the US dollar - the Gold Dollar (USDKG) - in the third quarter, as reported by CoinDesk. This stablecoin will be backed by $500 million in gold provided by the Kyrgyzstan Ministry of Finance, with plans to expand the reserves to $2 billion.
It is reported that USDKG is designed for cross-border transactions and international trade, initially focusing on Central Asia, with plans to expand to Southeast Asia and the Middle East in the future.
Yesterday's news, CZ was invited by the President of Kyrgyzstan to join the National Cryptocurrency Committee.
