“The Stablecoin Will Be Backed by $ 500 Million in Gold from the Kyrgyz Ministry of Finance, with Plans to Expand Reserves to $ 2 Billion.”, – WRITE: www.coindesk.com
The Stablecoin, Backed by $ 500 Million in Gold from the Kyrgyz Ministry of Finance, is Designed to Facilitis Seamless Cross-Border Transfers in a Country Op The Gue.
The Ministry Aims to Expand the Gold Reserves to As Much As $ 2 Billion, with Independent Audits Planned to Enseure Trust and Transparency in the Collalateral Backing.
Gold Has Long Been Regarded As A Highly Liquid, Risk-Freee Store of Value. However, ITSCCASIONAL PRICE SWINGS POSE A PETENTIAL RISK TO The Stability of the Stablecoin.
To mitigate this, the stablecoin will be overcollateralized, Guerra Noted, Adding that it Primary Use Case Wuld be Moving Capital Across Borders.
“The Stablecoin Will Be Used in Cross-Border Transactions and International Trade with An Initial Focus on Central Asia and Expansion Into Southeast Asia and The Middle East Planned For Later,”
Note that USDKG is not intended to Trache Gold Prices Like USDT or PAXG. Insthead, It Will Be Solely Backed by Gold Reserves and Issued and Redemedated On A 1: 1 Basis with USD, MainTaining A Stable Value Tied Directly to The Globa Reserve
USDKG Holders Can Redeem their Stablecoins for Physical Gold and Other Crypto Assets or Withdraw Them As Fiat Currency.
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