OSL HK Lists Kyrgyz Gold-Backed Stablecoin USDKG

OSL Group’s Hong Kong-licensed exchange, OSL HK, has listed USDKG, a gold-backed stablecoin issued by the Kyrgyz Republic, and opened USDKG/USDT over-the-counter trading to professional investors on its platform.

OSL said the listing makes the state-supervised, asset-backed token available through its institutional infrastructure in Hong Kong, where the exchange operates under a local license. The OTC pair is accessible to OSL HK’s professional clients.

USDKG is issued by OJSC Virtual Asset Issuer, a state-owned company under Kyrgyzstan’s Ministry of Finance. The initial issuance was $50 million, backed by physical gold reserves audited by Kreston Global. The token runs on the Ethereum and TRON networks and has undergone smart contract audits by ConsenSys Diligence.

The stablecoin is already tradable on decentralized exchanges including Curve and Uniswap and is supported by wallets such as Ledger Live, MetaMask, Trust Wallet and TronLink.

Kyrgyz authorities and the issuer say USDKG is designed to meet FATF KYC/AML standards and to support cross-border settlements, payments and broader financial access. OSL described the listing as a way to extend USDKG’s availability into a licensed Hong Kong market for institutional counterparties.

Jason Liu, OSL’s global exchange chief operating officer, commented: “We aim to give investors access to regulated and innovative digital assets and to expand our compliant stablecoin offerings.” Biibolot Mamytov, CEO of Gold Dollar (USDKG), added: “Listing USDKG on a licensed Hong Kong platform advances transparency around gold-backed reserves and supports institutional infrastructure.”

OSL Group, listed on the Hong Kong Stock Exchange under ticker 863, provides stablecoin payment, trading, settlement and custody services for institutional clients. The listing brings an additional asset-backed stablecoin option to professional investors using a licensed Hong Kong platform.