Official Name: Open Joint-Stock Company Virtual Asset Issuer
Country: Kyrgyzstan
OJSC Virtual Asset Issuer is a 100% state-owned entity under the Ministry of Finance of Kyrgyzstan. The company operates as a licensed Virtual Asset Service Provider (VASP) under the 2022 Law on Virtual Assets of the Kyrgyz Republic. Its mandate is to issue and manage USDKG, a gold-backed stablecoin pegged 1:1 to the U.S. dollar with initial capitalization of 50 million tokens. The issuer maintains a governance structure that separates political oversight from operational control: the Ministry of Finance provides supervision and co-signatures for new token mints, while day-to-day operational control, including gold custody and management, is delegated to a private company ("Gold Dollar") under contractual agreement. This separation ensures the project operates outside the classification of a CBDC while preserving sovereign oversight.
Licenses:
Virtual Asset Service Provider (VASP) License
Virtual Asset Emission/Issuance Registration (Unified State Register of Virtual Asset Issuances)
Verified