OSL HK lists the Kyrgyz Republic’s USDKG stablecoin, offering professional investors a gold-backed digital asset.
Licensed digital asset exchange OSL Group announced that its Hong Kong-licensed platform, OSL HK, has officially listed USDKG, a state-supervised gold-backed stablecoin issued by the Kyrgyz Republic. The partnership makes the sovereign-backed digital asset accessible to professional investors through an over-the-counter platform via an initial USDKG/USDT trading pair.
This listing scales institutional utility for regulated digital currencies, introducing an asset pegged 1:1 to the US dollar and fully secured by audited physical gold reserves into an established virtual asset market. It connects traditional state-level capital management with institutional-grade blockchain infrastructure, allowing regional market participants to execute secure cross-border settlements.
The introduction of this digital asset directly addresses the lack of verified sovereign alternatives in the stablecoin sector, solving the persistent industry challenge of counterparty risk and inadequate reserve transparency. By providing access to a state-supervised token, financial institutions can diversify their liquid portfolios without relying on unlicenced or unaudited private stablecoin issuers.
The underlying asset infrastructure is managed by a state-owned entity under Kyrgyzstan’s Ministry of Finance, deploying an initial US$50 million issuance across the Ethereum and TRON blockchain networks. Transactions routed through the exchange operate under full sovereign oversight, whilst the token framework maintains compliance with international anti-money laundering regulations.
Jason Liu, Global Exchange COO at OSL Group, said: “The listing of USDKG not only enriches OSL’s product offerings for the market, but also strengthens its compliant stablecoin ecosystem, as the introduction of a state-backed, compliant digital asset further underscores OSL’s credibility and leadership within the industry.”
Biibolot Mamytov, CEO at Gold Dollar (USDKG), said: “Hong Kong is widely regarded as the gold standard for digital asset regulation, and working with OSL reflects our focus on transparency, gold-backed reserves, and institutional-grade infrastructure.”
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