Kyrgyzstan plans to launch USDKG – a state-backed stablecoin with a gold reserve and pegged to the US dollar – in the third quarter of 2025, targeting cross-border payments and international trade in Central Asia. Simultaneously, in the UAE, the country’s largest financial institutions, under the supervision of the Central Bank of the UAE, are issuing a stablecoin backed by the dirham, with the aim of accelerating and reducing the cost of payments, as well as developing the digital economy.

Instruction No. 7036-U of the Bank of Russia “On Additional Requirements for Foreign Digital Rights That May Be Qualified as Digital Rights” (“Instruction 7036-U”) comes into force on May 26th.