Uzbekistan Targets $1B Fintech Investment, Doubling Startups by 2030
Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan is developing one of Central Asia's most dynamic startup ecosystems, driven by direct state participation in venture funding and strong interest from young tech talent. Officials, institutional investors, and startup founders highlighted the country's technological shift at the Silk Road Finance & Technology Forum held in Tashkent on 24–26 August 2026.
Bobur Khodjaev, head of the Department for Financial Technologies, Digitalization, and Artificial Intelligence of the Presidential Administration, reported that Uzbekistan currently hosts approximately 100 fintech startups. Authorities plan to double that figure to 200 startups by 2030. After attracting over US$200 million in venture capital investment last year, the country aims to secure US$1 billion in total fintech funding by 2030.
Much of the national innovation centers around Uzbekistan's two domestic payment card networks, UzCard and Humo. UzCard is focusing on artificial intelligence solutions, including AI-driven credit scoring, anti-fraud tools, and banking advisory services. Meanwhile, Humo is advancing digital asset capabilities, having issued tokens last year and currently preparing the country's first stablecoins. Khodjaev noted that operating two distinct national payment systems is unusual globally, but both networks serve as incubation grounds for smaller startups.
Nandan Mahanti, Chief Executive Officer of the Global Finance and Technology Network (GFTN), observed that Central Asia has already produced its first digital-native fintech unicorn. Mahanti categorized the region's startup landscape into three groups: B2B tech providers assisting traditional institutions, startups operating in regulatory sandboxes pursuing licenses, and established global operators entering regional markets.
Mahanti highlighted the Central Bank of Uzbekistan's decision to launch its own venture capital fund as an unprecedented move for a regional monetary authority. Khodjaev confirmed that the Central Bank established a US$50 million venture fund and is negotiating with an external asset management firm to handle its administration. Central Bank Chairman Timur Ishmetov explained that professional managers will select high-impact fintech ventures rather than funding projects indiscriminately.
Under the National Fintech Strategy for 2026–2030, Uzbekistan plans to train 5,000 young specialists, with the Central Bank's Innovation Hub scheduled to accept its first cohort of resident startups in the fourth quarter of 2026.
Ishmetov recounted how a recent hackathon organized to build a financial marketplace attracted 160 participants across 40 student-led teams, resulting in 80% of participants applying for positions at the Central Bank. Founder Anastasia Yugova added that while technology can scale globally from day one, navigating local payment mechanisms, compliance standards, and regulatory frameworks remains the critical challenge for early-stage founders.
