Kyrgyzstan has released its first national stablecoin pegged to the som

Юлия Воробьева Economy
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Kyrgyzstan has released its first national stablecoin pegged to the som
Kyrgyzstan has launched the first issuance of the KGST stablecoin, which has a fixed ratio of 1:1 to the national currency — the som. This information was announced by the secretariat of the National Council for the Development of Virtual Assets and Blockchain Technologies.
Photo provided by the National Council for the Development of Virtual Assets and Blockchain Technologies
The token has been implemented on the BNB Chain network, has undergone a smart contract audit, and an expert review of its Whitepaper. According to the issuer, test transactions with the token have previously been conducted on various cryptocurrency exchanges, including international and regional platforms.

KGST is an open and fully backed stablecoin, with reserves held in the country's state banks. The token's infrastructure includes user identification procedures that comply with international KYC/AML standards.

In the coming months, KGST is expected to be listed on the Binance platform, where trading pairs with cryptocurrencies such as USDT, USDC, BNB, and BTC are planned.

Additionally, a mobile application for KGST token users is currently in development.

The issuer of this stablecoin is OsOO KGSTOKEN.
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