[DigitalToday reporter Chi-gyu Hwang (황치규)] Hong Kong-licensed digital asset exchange OSL HK has listed USDKG, a gold-backed stablecoin issued by Kyrgyzstan.
Cointelegraph reported recently that the listing brings a state-supervised, asset-backed digital currency into the Hong Kong market.
USDKG is pegged 1:1 to the U.S. dollar and is backed by physical gold reserves. Professional investors can trade USDKG/USDT on OSL HK's over-the-counter platform.
USDKG is issued by OJSC Virtual Asset Issuer, a state-run agency under Kyrgyzstan's finance ministry. The initial issuance is $50 million, and gold reserves were audited by Creston Global. The token runs on Ethereum and TRON, and ConsenSys Diligence conducted the smart contract audit.
It can also be used on decentralised exchanges such as Curve and Uniswap. Major wallets including Ledger Live, MetaMask, Trust Wallet and TronLink also support it.
USDKG was designed to comply with FATF know-your-customer and anti-money laundering standards, with a focus on supporting a broad range of financial use cases including cross-border payments.
Chi-gyu Hwang
delight@d-today.co.kr