Kyrgyzstan promotes the legalization of gold reserve stablecoins, and audit institutions will regularly verify capital

Mars Finance News, according to Cointelegraph, the government-supported stablecoin project USDKG in Kyrgyzstan announced the advancement of its fiat currency process, with the project adopting a dual anchoring mechanism of gold reserves and the US dollar. William Campbell, the head of advisors, revealed to Cointelegraph that while the stablecoin is backed by physical gold reserves, it chooses to anchor to the US dollar exchange rate (1:1) to meet daily payment and international trade needs. The gold reserves will be audited by one of the Big Four accounting firms every six months and publicly disclosed on-chain. The Kyrgyz government is actively laying out its Web3 strategy through legislative reforms and tax breaks, with 140 crypto enterprises already registered. As a key link in the country's digital economic development, USDKG is supported by government gold reserves but operated independently by private entities. The project team stated that they will integrate DeFi lending and yield farming functions in the future, competing with traditional stablecoins like USDT through differentiated trust endorsements. USDKG plans to officially launch next quarter, allowing users to verify gold reserves through on-chain audit reports. Kyrgyzstan is gradually building a digital asset hub in Central Asia by lowering tax rates for crypto enterprises and establishing clear regulatory frameworks.