Hong Kong-listed OSL Group (HKEX: 863) has added USDKG, the gold-backed stablecoin issued by the Kyrgyz Republic, to its licensed digital asset exchange OSL HK.
The token is now available to professional investors through the company’s OTC desk and its Pro Trade platform, with USDKG/USDT as the initial trading pair.
USDKG is pegged 1:1 to the US dollar and backed by physical gold reserves held by a state entity in Kyrgyzstan.
According to OSL, the listing extends the stablecoin’s reach into one of Asia’s largest licensed virtual asset markets and broadens its institutional infrastructure footprint.
The token is issued by OJSC Virtual Asset Issuer, a state-owned company operating under Kyrgyzstan’s Ministry of Finance.
Its initial issuance stands at $50 million, with gold reserves audited by Kreston Global.
USDKG is deployed on Ethereum and TRON, and the underlying smart contracts have been audited by ConsenSys Diligence.
Commenting on the listing, Biibolot Mamytov, CEO of Gold Dollar (USDKG), said the move places the token in front of professional investors operating under one of the most developed regulatory regimes in the sector.
“Hong Kong is widely regarded as the gold standard for digital asset regulation, and working with OSL reflects our focus on transparency, gold-backed reserves, and institutional-grade infrastructure”, he said.
For OSL, the addition continues an ongoing build-out of its stablecoin offering.
The exchange operates under a Hong Kong VASP license and has positioned itself around regulated, asset-backed instruments as the local market shifts toward a formal stablecoin licensing framework introduced by the Hong Kong Monetary Authority.
USDKG already trades on decentralized venues including Curve and Uniswap, and is compatible with Ledger Live, MetaMask, Trust Wallet, and TronLink.
The token is structured to meet FATF KYC and AML standards, and is aimed at cross-border settlement and similar use cases where a fully reserved, asset-backed instrument is preferred over algorithmic or unregulated alternatives.
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