The Cabinet of Ministers of Kyrgyzstan issued Order No. 639-t on August 20, 2026, mandating the liquidation of OJSC EVA and OJSC Coin Nomad Exchange. OJSC EVA is the issuer of the USDKG stablecoin, while Coin Nomad Exchange served as the country’s first state-owned digital-asset trading platform.
The USDKG stablecoin launched in November 2025 and was designed to be pegged 1:1 to the US dollar, backed by physical gold. Kreston Global previously verified reserves of approximately 376 kg of gold, valued at about $50.3 million at the time of the audit.
Following a shareholder vote on September 3, 2026, Coin Nomad Exchange entered voluntary liquidation. Creditors have until October 14, 2026, to submit their claims. Approximately 50 million USDKG tokens remain in circulation, with the asset currently trading near $1.
Holders of USDKG have been instructed to contact the issuer to request redemption in fiat currency or USDT. No specific deadline for redemptions has been established, and formal verification procedures for the process have not been disclosed by the authorities.
