Kyrgyzstan launches gold-backed stablecoin USDKG

Kyrgyzstan has launched USDKG, a gold-backed stablecoin pegged 1:1 to the U.S. dollar, to modernize its cross-border payment systems, CryptoBriefing reported. The initial issuance is valued at $50 million. The stablecoin was first launched on the Tron network, with plans for a future issuance on Ethereum.