Kyrgyzstan has officially launched its national stablecoin, USDKG, with an initial issuance of $50 million, marking a groundbreaking moment in global finance. Unlike conventional stablecoins pegged and backed by U.S. Treasuries, USDKG is pegged to the U.S. dollar but fully backed by gold reserves, making it the worlds first gold-backed stablecoin of this nature. The National Bank of Kyrgyzstan revealed that the country holds approximately 340 tons of gold, with an additional 1,000 tons confirmed in underground reserves. By leveraging its vast gold resources, Kyrgyzstan aims to strengthen its...