Government stablecoins - a boring topic. That's why it's important. Governments don't enter blockchain for fashion. They need a tool. Preferably predictable. And preferably without surprises, like classical crypto assets.
A government stablecoin is a digital asset pegged to the national currency and issued within the framework of the law. Not 'an analogue of Bitcoin'. Rather, it's a digital form of already existing money, but with different logistics. Faster. Cheaper. More direct.
Why do states even look there?
The answer is down to earth: Cross-border payments. Accounting. Transparency. Control.
Bank transfers between countries still look like sending letters by pigeons. Stablecoins solve this problem without unnecessary heroism.
It is important not to confuse such tools with decentralized experiments. There are no promises of profitability here. No 'x's. There is calculation. Law. Reserves. The regulator is nearby, not somewhere in the presentation.
$KGST - an example of exactly this approach. A 1:1 peg to the Kyrgyz som, fiat backing, operating within the legislation. Without shouting. Without a show.
Government stablecoins do not make revolutions. They simply repair the infrastructure. Sometimes this is more important.
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