OSL Unveils Groundbreaking Gold-Backed Stablecoin USDKG in Hong Kong
By Abdus Salam
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In a bold move set to transform the digital asset landscape in Asia, OSL Group (863.HK) has officially launched the gold-backed stablecoin USDKG on its Hong Kong-licensed exchange. This listing, announced today, positions USDKG as a pioneering state-supervised cryptocurrency, fully backed by physical gold reserves, and pegged 1:1 to the U.S. Dollar.
The USDKG stablecoin is now available for professional investors via OSL’s robust over-the-counter (OTC) platform, with an initial trading pair of USDKG/USDT. This step aligns OSL’s commitment to foster a secure and compliant digital currency environment not only in Asia but on a global scale.
“OSL is dedicated to providing investors with access to regulated, innovative assets,” stated Jason Liu, Global Exchange COO of OSL. “The introduction of USDKG not only enhances our product portfolio but also fortifies our compliant stablecoin ecosystem, reinforcing our leadership and credibility in the industry.”
Biibolot Mamytov, CEO of Gold Dollar (the entity responsible for USDKG), emphasized the significance of entering Hong Kong’s highly regulated digital asset market. “This listing marks a critical milestone for USDKG. Collaborating with OSL underscores our commitment to transparency and institutional-grade infrastructure,” he noted.
OSL’s exchange infrastructure is designed to cater to professional investors and institutional players, expanding the reach of USDKG into new markets while supporting its adoption for cross-border settlements and various financial applications.
Issued by OJSC Virtual Asset Issuer under the Kyrgyz Republic’s Ministry of Finance, USDKG has an initial issuance of $50 million, with its reserves audited by Kreston Global. The stablecoin utilizes Ethereum and TRON blockchain networks, benefiting from rigorously reviewed smart contracts performed by ConsenSys Diligence. It is also fully compliant with FATF KYC/AML standards, aimed at promoting financial inclusion.
With USDKG’s listing, Kyrgyzstan continues to assert its position as a frontrunner in the regulated digital asset arena, effectively bridging traditional financial systems with blockchain technology while ensuring comprehensive state oversight and accountability.
For more information on USDKG and its features, visit USDKG's official website.
Source: Cointelegraph