According to their information, the cryptocurrency exchange will soon become the first in the country to present the national stablecoin KGST on its market.
“This step is a continuation of the initiative of the President of the Kyrgyz Republic aimed at developing the digital economy and implementing national virtual assets. The KGST stablecoin, which is pegged to the Kyrgyz som, will become a key component of this new financial system,” the official statement says.
KGST is a public and secure stablecoin fully backed by the national currency — the som, at a ratio of 1:1.
The reserve funds of KGST will be stored in state banks of Kyrgyzstan, which guarantees the reliability of the asset.
The creation and launch of the token is taking place on the BNB Smart Chain (BSC) blockchain. The smart contract has undergone independent security verification, and the Whitepaper has been subjected to expert evaluation.
The token's infrastructure includes multi-level authentication and verification, in accordance with international KYC/AML standards.
After a successful launch in local markets, including XRuby, it is planned to present KGST on several international trading platforms, such as Binance and CoinBase.
The official start of trading on the XRuby platform is expected soon. Those wishing to become the first holders of the national stablecoin are advised to register on the XRuby exchange.
