Kyrgyzstan Just Launched a Gold-Backed Dollar Stablecoin — and Washington Might Hate It
Kyrgyzstan is making ready to launch a stablecoin denominated in US {dollars} however backed by its substantial gold reserves. Analysts argue that the transfer undermines Washington’s efforts to bolster the greenback’s dominance by utilizing stablecoins to drive demand for US Treasuries. They additionally see it as a potential geopolitical check case for international locations aiming…
