Uzbekistan Tests Government-Backed Stablecoin Payments in Pilot Project
Uzbekistan has launched a pilot project to test payments using a stablecoin backed by government securities. The National Agency for Prospective Projects (NAPP) partnered with Humo Digital, a registered participant in a special regime overseen jointly by the central bank and NAPP.
The HUMO token is pegged to one Uzbek som and will be tested for issuance, circulation, and redemption during the 12-month trial. More than 20 merchants are participating in the pilot, which also integrates blockchain infrastructure from participating banks and a licensed crypto exchange, Asterium.
Regulators will assess the stability of the token's collateral, cybersecurity, consumer safeguards, anti-money laundering controls, and risks to financial and price stability during the three-year project. The trial follows a framework approved in November 2025 that permits stablecoin payment trials under a sandbox environment.