By 2030, Uzbekistan Plans to Double Fintech Investment and Join the Global Fintech Index

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has set an ambitious goal of becoming the regional hub for financial technologies in Central Asia by implementing a comprehensive fintech development strategy for the period 2025–2030.

The country’s Central Bank aims to build a modern, resilient, and competitive financial services system driven by digitalization and innovation.

Current Market Landscape

According to a Central Bank presentation obtained by UzDaily, Uzbekistan’s fintech sector has shown remarkable growth: the number of companies has expanded from 24 in 2018 to 103 in 2025, a 4.3-fold increase.

The largest share of the market is held by payment services (53.8%), followed by accounting (12.5%), installment-based trade (11.5%), and cryptocurrency services (7.7%).

Key players include 44 payment providers such as Humo and Uzcard, three digital banks, and two microfinance organizations.

Investment Attractiveness

In terms of venture capital investment in 2024, Uzbekistan ranked fourth in the region with US$69.5 million, behind Russia (US$92 million), Kazakhstan (US$71 million), and Georgia (US$21.6 million).

Fintech projects accounted for the overwhelming majority — US$58 million, or 83.5% of the total.

Digital payments via mobile apps nearly tripled over three years, from 114 trillion soums in 2022 to 346 trillion soums in 2024.

Uzbekistan accounts for 22% of all digital payments in the region, equivalent to US$6.3 billion. Among the standout companies are Click, Payme, and Billz.

Challenges and Barriers

Despite its dynamic growth, the sector faces a number of constraints, the regulator’s presentation notes. More than half of fintech companies (54%) remain confined to payment solutions, underscoring the lack of market diversification.

The industry also suffers from a shortage of qualified personnel, limited use of the “regulatory sandbox,” a weak acceleration and prototyping ecosystem, restricted API integration capabilities, and legislative barriers concerning personal data processing.

Another significant obstacle is the limited access to global payment services such as Google Pay and Apple Pay, which hampers ecosystem growth.

Development Strategy 2025–2030: A Phased Roadmap

At the core of the 2025–2030 strategy is the creation of an innovation hub that will position Uzbekistan as a regional center for financial innovation.

In Q4 2025, the initial objectives of the hub will be defined. By Q1 2026, a digital regulatory sandbox for testing fintech solutions will be introduced. In Q2, hackathons will be organized alongside the launch of incubation and acceleration programs, and by Q3 a fully operational center is expected to be established.

Over five years, the plan envisions more than 20 fintech hackathons, testing of over 100 ideas, engagement of more than 500 students, and incubation of over 100 startups.

To attract investment, roadshows will be held in Europe and Asia, with partnerships involving major corporations, venture funds, and accelerators.

The digital regulatory sandbox will allow companies to prototype products quickly, test them in a controlled environment, and bring them to market safely, reducing risks and accelerating innovation deployment.

Central Bank’s Digital Transformation

In parallel, the Central Bank is actively rolling out digital technologies and artificial intelligence. Planned initiatives include AI assistants for staff, biometric identification via Face IDS, anti-fraud systems and credit scoring based on alternative data, big data analytics for risk forecasting, and customer-facing virtual chatbots.

The regulator also intends to establish an integrated digital IT infrastructure built on a national cloud system, an anti-fraud system architecture, and a corporate IT resource management platform.

Particular emphasis will be placed on cybersecurity, personal data protection, and refining the legal framework to better support innovation.

Ambitious Targets

By 2030, Uzbekistan aims to secure a place in the Global Fintech Index and achieve 20% annual growth in the fintech market.

The country also plans to double sectoral investment and create a platform for promoting national fintech solutions internationally.

Implementation of the strategy will rely on close cooperation with global partners and the development of a supportive regulatory environment for innovation, with a focus on open banking, cloud services, digital regulation, and artificial intelligence.