USDKG, issued by OJSC Virtual Asset Issuer, is a gold-collateralized stablecoin pegged 1:1 to the U.S. dollar (USD) and backed by overcollateralized physical gold reserves held in bank vaults within the Kyrgyz Republic. [S1][S2][S3]

Each token maintains a fixed 1:1 peg to the USD and does not track the gold price; gold appreciation does not expand supply, while declines trigger additional gold acquisition to maintain collateralization. [S3] The supply is backed by physical gold valued at London Bullion Market Association (LBMA) prices plus supplementary fiat and crypto liquidity buffers, reported at $54.8M against $50M in circulation, approximately 109.6% overcollateralized. [S4][S3] The instrument pays no yield, dividends, or distributions. [S3]

OJSC Virtual Asset Issuer is a state-owned entity under the Ministry of Finance of the Kyrgyz Republic, incorporated in the Kyrgyz Republic, with gold management handled by a private Kyrgyz company under the Gold Dollar brand. [S5] It operates under Kyrgyzstan's 2022 Law On Virtual Assets and a Virtual Asset Service Provider (VASP) regime, with Ministry of Finance supervision. [S2][S6] The token is a tokenized gold-collateralized instrument, not legal tender. [S2] Institutional holders may redeem directly, subject to KYC and AML verification and qualification criteria, for USD, supported cryptocurrencies, or gold case-by-case; retail users transact via supported exchanges. [S1][S2]

USDKG is issued as an ERC-20 token on Ethereum and a TRC-20 token on TRON, the only official deployments. [S1][S4] Tokens are minted on a permissioned, audit-first basis only after gold enters custody, is valued at LBMA prices, and is independently verified, with the Ministry of Finance co-signing each mint via multi-signature governance. [S2][S3] Kreston Global publishes quarterly reserve attestations. [S7]

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://www.usdkg.com/" },
    { id: "S2", url: "https://www.usdkg.com/blog/how-usdkg-earned-legal-status-as-a-gold-backed-digital-currency" },
    { id: "S3", url: "https://www.usdkg.com/blog/usdkg-tokenomics-explained-dollar-pegged-gold-backed" },
    { id: "S4", url: "https://www.usdkg.com/transparency" },
    { id: "S5", url: "https://www.usdkg.com/blog/kyrgyzstan-launches-50m-gold-backed-usdkg-stablecoin" },
    { id: "S6", url: "https://www.usdkg.com/blog/building-usdkg-for-regulated-markets-in-2026" },
    { id: "S7", url: "https://www.usdkg.com/blog/usdkgs-gold-audit-a-new-standard-for-stablecoins" },
  ]}
/>


Stablecoins

Each USDKG token is fully collateralized by gold reserves and maintains a 1:1 peg to the U.S. Dollar; gold custody and reserve management are delegated to a Kyrgyz-registered private operator under contract with the issuer.

USDKG is a U.S. Dollar-pegged stablecoin backed 1:1 by gold reserves, designed for 24/7 transactions and instant cross-border settlement. It launched in 2025 with an initial $50M issuance on Tron, was audited by ConsenSys Diligence, and has since expanded to Ethereum.

USDKG is issued by OJSC Virtual Asset Issuer, a state-owned entity under the Ministry of Finance of the Kyrgyz Republic, operating under the country's 2022 Law on Virtual Assets. Day-to-day operations, including gold management, are run by project operator Gold Dollar.

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Stablecoin issuers

USDKG

USDKG (USDKG) is a U.S. dollar stablecoin issued by USDKG through OJSC Virtual Asset Issuer.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Reserves are held in precious metals, attested quarterly by Kreston Global.

Institutions can mint and redeem directly with USDKG in USD, KGS, and gold after completing KYC, and holders have a contractual right to redeem at par.

OJSC Virtual Asset Issuer is supervised by the Ministry of Finance of the Kyrgyz Republic.

USDKG has been issued on public blockchains since December 2025 and is native to Tron and Ethereum.

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