Market News / Story
Kyrgyzstan Ends State-Backed Stablecoin USDKG and Orders Liquidation of Issuer and Exchange
Binance News ·
Binance News reports: Kyrgyzstan has decided to end operations of its state-backed stablecoin Gold Dollar (USDKG) and ordered the Finance Ministry to liquidate its issuer EVA and the country’s first state-owned crypto exchange, Coin Nomad Exchange. According to ChainCatcher, the stablecoin was launched by authorities in November 2025 and was initially presented as the world’s first state-issued stablecoin, backed by physical gold and pegged 1:1 to the U.S. dollar. The issuer was a…