Uzbekistan Launches Pilot Project for HUMO Stablecoin

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan is launching a pilot project to use the HUMO stablecoin as a means of payment, the National Agency of Perspective Projects (NAPP) said.

The project is being implemented by the NAPP and the Central Bank of Uzbekistan under a special regulatory regime governing the circulation of stablecoins.

As part of the project, HUMO Digital LLC, with the approval of the Central Bank, has been registered as a participant in the special regulatory regime. According to the NAPP’s register, the company was registered on 2 September 2026.

The project will test mechanisms for issuing, circulating and redeeming the HUMO stablecoin, whose value will be set at a ratio of one HUMO to one soum.

Asterium JSC, which holds licenses to operate as a crypto-depository, crypto exchange and crypto shop, is participating as a project partner. Banks and other businesses are also expected to be involved in the pilot.

A key element of the experiment will be the issuance of the HUMO stablecoin backed by government securities. The special regulatory regime will also test the possibility of using the token to make and receive payments for goods, works and services in Uzbekistan.

According to the NAPP, more than 20 businesses are ready to participate in the pilot project as merchants.

The project participants plan to integrate banking, processing and blockchain infrastructure to conduct settlements. This will allow them to test payment mechanisms using the HUMO stablecoin.

The planned implementation period for the pilot project is up to three years. It will be conducted under the joint supervision of the NAPP and the Central Bank.

The main objective of the experiment is to assess the potential of stablecoins as an innovative tool for making payments. The mechanism is expected to accelerate business settlements, increase transaction transparency and provide an additional level of transaction security.

At the same time, regulators plan to pay particular attention to identifying risks that may arise from the use of stablecoins and developing mechanisms to minimize them.

The pilot project is being implemented pursuant to Presidential Resolution No. PP-359 of 27 November 2025, “On Measures to Further Develop the Financial Services Sector in Uzbekistan.” Its results are expected to contribute to the further adoption of advanced technologies in the country’s financial sector.

Earlier, the regulatory framework for the special regime was further improved through a joint resolution of the NAPP and the Central Bank. The amendments were aimed at improving mechanisms for securing the issuance of stablecoins and increasing the reliability of such instruments.