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Kyrgyzstan has launched the gold-backed stablecoin USDKG, planning to integrate it into the legal currency system.
According to Gate News bot and reported by Cointelegraph, Kyrgyzstan is advancing the process of legal tender for the gold-backed stablecoin USDKG. William Campbell, the head consultant for USDKG, introduced in an interview that this stablecoin adopts a 1:1 USD pegging mechanism, rather than being directly tied to the price of gold, and is supported by physical gold reserves. To ensure operational transparency, USDKG will undergo an audit every six months by one of the Big Four accounting firms (likely KPMG or Ernst & Young), with the audit results made public on the Blockchain.
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