OSL HK Lists Kyrgyz Gold-Backed USDKG Stablecoin

OSL Group announced that its Hong Kong-licensed exchange, OSL HK, listed USDKG today and opened OTC trading in the USDKG/USDT pair for professional clients on its institutional OTC platform.

USDKG is issued by OJSC Virtual Asset Issuer, a state-owned entity under Kyrgyzstan’s Ministry of Finance. The initial issuance was $50 million, with the tokens backed by physical gold reserves audited by Kreston Global.

The stablecoin is deployed on the Ethereum and TRON blockchains. ConsenSys Diligence carried out security reviews of the smart contracts. USDKG is already available on decentralized exchanges including Curve and Uniswap and is supported by wallets such as Ledger Live, MetaMask, Trust Wallet and TronLink.

OSL noted that USDKG complies with FATF KYC and AML expectations and that access on its OTC service is restricted to professional investors. The firm said the token can be used for cross-border settlement and other applications that require regulated, asset-backed digital liquidity, subject to applicable regulatory requirements.

Jason Liu, OSL’s Global Exchange COO, commented: “Listing USDKG expands OSL’s regulated product set and supports a compliant stablecoin ecosystem.” Biibolot Mamytov, CEO of Gold Dollar (USDKG), called the Hong Kong listing an important market-access milestone: “Working with a licensed exchange in Hong Kong reflects our focus on transparency, gold-backed reserves and institutional infrastructure.”

OSL Group is listed on the Hong Kong Stock Exchange under the ticker 863. The company said participation on its platform remains subject to client eligibility checks and relevant legal and regulatory conditions.