Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff editor

Uzbekistan begins government bond-backed stablecoin payment pilot

Latest NewsPublishedSep 8, 2026

Humo Digital will test HUMO payments with more than 20 merchants under a sandbox jointly overseen by NAPP and Uzbekistan’s central bank.

Uzbekistan has introduced a pilot to test payments with a som-pegged stablecoin backed by government securities. 

On Monday, the National Agency for Prospective Projects (NAPP) stated it had registered Humo Digital as a participant in a special regime jointly overseen with the central bank. The pilot will test the issuance, circulation and redemption of HUMO, with each token pegged to one Uzbek som.

NAPP stated more than 20 merchants are prepared to test HUMO payments for goods and services.

The project will also integrate participating banks’ payment-processing and blockchain infrastructure. Asterium, a licensed crypto exchange, will serve as a project partner. 

as reported by the Central Bank of Uzbekistan, the initial trial will run for 12 months, with the project’s total duration capped at three years. Regulators will assess the adequacy and safeguarding of the token’s collateral, cybersecurity, consumer safeguards, anti-money laundering controls and risks to financial and price stability.

The pilot follows a framework approved in November 2025. At the time, Uzbekistan stated it was planning to permit stablecoin payment trials under a sandbox, alongside provisions for tokenized shares and bonds. 

Related: Kyrgyzstan introduces state crypto reserve concept in new bill

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Stablecoin
• Government
• Uzbekistan
• Payments
• Blockchain

More on the subject

Cronos confirms $9.2M slipped away before Tectonic exploit rollback

3 hours ago

Ezra Reguerra

Harmony proposes shutting down layer 1, migrating ONE to Ethereum

Sep 7, 2026

Ezra Reguerra

VARA, Securitize sign MoU for tokenization innovation in Dubai

Sep 3, 2026

Zoltan Vardai

Cronos confirms $9.2M slipped away before Tectonic exploit rollback

3 hours ago

Ezra Reguerra

Harmony proposes shutting down layer 1, migrating ONE to Ethereum

Sep 7, 2026

Ezra Reguerra

VARA, Securitize sign MoU for tokenization innovation in Dubai

Sep 3, 2026

Zoltan Vardai