$USDC Happycoin.club - In the third quarter in Kyrgyzstan, they plan to present the stablecoin Gold Dollar, or USDKG, backed by gold and pegged to the US dollar at a 1:1 ratio.

The gold-backed stablecoin worth $500 million from the Ministry of Finance of Kyrgyzstan is aimed at simplifying seamless cross-border transfers in a country where remittances account for 30% of GDP.

The Ministry intends to expand gold reserves to $2 billion, as well as conduct independent audits to ensure trust and transparency of the backing.

Gold is rightly considered a risk-free and highly liquid means of saving, while also being subject to price fluctuations. To eliminate volatility, the stablecoin will have excess backing.

The stablecoin will be used in cross-border transactions and international trade with an initial focus on Central Asia and further expansion into Southeast Asian and Middle Eastern countries.

USDKG is not intended to track gold prices, like USDT or PAXG. Holders of USDKG can exchange their stablecoins for physical gold and other crypto asset