Kyrgyzstan’s government ends operations of national stablecoin USDKG and liquidates issuer and exchange
According to Bits.media, the Kyrgyz government has decided to end operations of the national stablecoin Gold Dollar (USDKG) and has instructed the Ministry of Finance to liquidate its issuer, EVA, and the country’s first state-owned cryptocurrency exchange, Coin Nomad Exchange. The stablecoin was launched by the country’s authorities in November 2025 and was initially billed as the world’s first state-issued stablecoin backed by physical gold and pegged 1:1 to the US dollar. Its issuer was a state-owned company wholly owned by the Kyrgyz Ministry of Finance, originally called “Virtual Asset Issuer” and later renamed “EVA.” Its registered issuance was just over 50 million tokens. The token runs on the Tron blockchain. Authorities had positioned it as a cross-border settlement tool and planned to operate it until at least 2034. The closure is intended to optimize the management of state assets. USDKG holders can exchange their tokens for fiat currency or USDT.
According to Bits.media, the Kyrgyz government has decided to end operations of the national stablecoin Gold Dollar (USDKG) and has instructed the Ministry of Finance to liquidate its issuer, EVA, and the country’s first state-owned cryptocurrency exchange, Coin Nomad Exchange. The stablecoin was launched by the country’s authorities in November 2025 and was initially billed as the world’s first state-issued stablecoin backed by physical gold and pegged 1:1 to the US dollar. Its issuer was a state-owned company wholly owned by the Kyrgyz Ministry of Finance, originally called “Virtual Asset Issuer” and later renamed “EVA.” Its registered issuance was just over 50 million tokens. The token runs on the Tron blockchain. Authorities had positioned it as a cross-border settlement tool and planned to operate it until at least 2034. The closure is intended to optimize the management of state assets. USDKG holders can exchange their tokens for fiat currency or USDT.