The token launch project is being implemented with the support of the country's Ministry of Finance, which will provide $500 million as an asset reserve, with plans to increase the collateral volume to $2 billion in the future. Reserves will undergo independent audit verification.
Initially, the stablecoin is planned to be used for cross-border transfers and international trade activities in Central Asia, with subsequent expansion to Southeast Asia and the Middle East.
Previously, the Kyrgyz company Old Vector issued a ruble-pegged stablecoin A7A5 for the Russian cross-border settlement platform Promsvyazbank and A7.
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