---
title: "USDKG (USDKG) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdkg-gold-dollar/"
description: "Build-time stablecoin profile for USDKG (USDKG). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# USDKG (USDKG)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

USDKG is a Kyrgyz Republic gold-backed stablecoin minted against 376 kg of LBMA bullion, with 100.6% overcollateralization but only ISRS 4400 procedures rather than a full audit {{term:attestation}}attestation{{/term}}. USDKG is a sovereign experiment in commodity-backed stablecoin design: the Kyrgyz Republic's Ministry of Finance sold 376 kilograms of LBMA Good Delivery gold bars to LLC Virelint Group, which stores them in sealed boxes at an unnamed bank, and the state-owned OJSC "Issuer of Virtual Assets" mints USD-pegged tokens against that pile. The gold is real — Kyrgyzaltyn, the state mining monopoly that refined it, has been LBMA-listed since 2022 — but the trust chain from bullion to token runs through private intermediaries whose bank won't even let auditors see the access logs. Kreston Global's quarterly report is an ISRS 4400 agreed-upon procedures engagement, not an audit, and it explicitly disclaims assurance — a distinction that matters when 100.6% overcollateralization is the only buffer between a gold price dip and undercollateralization. The ConsenSys Diligence smart contract audit found no critical issues but confirmed what the architecture implies: owner multisig can pause all transfers, compliance multisig can blacklist any address and destroy its tokens. At $50M across Tron and Ethereum with thin DEX-only liquidity, USDKG is less a stablecoin for DeFi and more a cross-border payments rail for Central Asian corridors — the question is whether Bishkek's gold vaults can inspire the same confidence as, say, Brink's London.

## Collateral

Physical gold bars (~376 kg, 30 bars) sourced from the Kyrgyz Ministry of Finance via state gold enterprise Kyrgyzaltyn (LBMA Good Delivery listed); stored in sealed boxes at an unnamed bank under custody of LLC Virelint Group

## Peg Mechanism

1:1 mint and redemption against USD, Kyrgyzstani som, physical gold, or approved cryptocurrencies through Gold Dollar; KYC/AML verification required for all redemptions

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Kyrgyz Republic | Ministry of Finance | Law on Virtual Assets (2022) / Cabinet Resolution No. 514 |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| tron | `TXZo12qvnEVKvU2zbfuQeMXKusWyxonwEG` | 6 |
| ethereum | `0xe820c06321e60d36257c666643fa5436643445e3` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdkg-gold-dollar.