USDKG is a fiat-backed US dollar stablecoin. It has about $50.0M in circulation, ranking #73 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
What is USDKG?
USDKG is a fiat-backed US dollar stablecoin. It has about $50.0M in circulation, ranking #73 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: USDKG is a 1:1 USD-pegged stablecoin fully collateralized by physical gold reserves held in a custodian bank within Kyrgyzstan, backed by the Ministry of Finance of the Kyrgyz Republic.
USDKG supply history
USDKG supply was flat over the past 30 days. It is at or near its all-time high.
Is USDKG holding its peg?
There is no live market price for USDKG. It is not actively traded on any exchange or DEX we can see, which is common for bank-issued and permissioned stablecoins that are only minted and redeemed directly with the issuer.
Where USDKG lives: supply by blockchain
Supply is concentrated: Tron holds 94% of all USDKG. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDKG is backed
Each USDKG is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Minting and redemption: USDKG is minted and redeemed directly by institutional clients subject to KYC/AML verification, against U.S. dollars or supported cryptocurrencies, with gold redemption handled on a case-by-case basis. Retail users trade USDKG on supported exchanges.
USDKG risks
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDKG vs USDT and USDC
Similar fiat-backed stablecoins
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USDKG FAQ
What is USDKG?
USDKG is a fiat-backed US dollar stablecoin. It has about $50.0M in circulation, ranking #73 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
What backs USDKG?
USDKG is a fiat-backed stablecoin. Each USDKG is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Which blockchains is USDKG on?
USDKG is live on 2 blockchains. The largest by supply are Tron ($47.0M), Ethereum ($3.0M).
How much USDKG is in circulation?
About $50.0M of USDKG was in circulation at the last update, 0.0% over 30 days. That makes it the #73 stablecoin by supply among those we track.
Is USDKG safe?
No stablecoin is risk-free. As a fiat-backed design, USDKG's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "no market price" on our peg monitor. This page is information, not investment advice.