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Central Asian countries have come up with new tricks.



Kyrgyzstan has directly launched a government-backed stablecoin, USDKG, which is no small project — the initial issuance scale is 50 million USD, with each coin pegged 1:1 to the US dollar, fully backed by physical gold reserves. The issuing entity is OJSC Virtual Asset Issuer, a state-owned organization under their Ministry of Finance, equivalent to the government personally engaging in blockchain.

The technical route is quite solid: the first step is to run on Tron, with security audits carried out by established teams like ConsenSys Diligence, and there are plans to eventually integrate into the Ethereum ecosystem. This combination of "gold + blockchain + national credit" can be seen as a bold attempt by a small country in the field of digital currency.
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