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      Uzbekistan Initiates Pilot Program for Som-Pegged Stablecoin Payments

      Uzbekistan has commenced a pilot program aimed at testing payments using a stablecoin pegged to its national currency, the som. The National Project Agency (NAPP) announced the initiative on Monday, revealing that Humo Digital has been registered as a participant under joint regulation with the Central Bank of Uzbekistan. This pilot will involve the issuance, circulation, and redemption of HUMO tokens, each valued at 1 Uzbek som.

      More than 20 merchants are reportedly ready to accept HUMO payments as part of the pilot, which will also incorporate payment processing and blockchain infrastructure provided by participating banks. A licensed cryptocurrency exchange, Asterium, is collaborating on the project. The Central Bank of Uzbekistan has indicated that the initial trial phase will last for 12 months, with the overall project extending up to three years.

      Regulators will evaluate various aspects of the stablecoin, including the adequacy and security of the token collateral, cybersecurity measures, consumer protection protocols, anti-money laundering controls, and potential financial and price stability risks. This pilot follows a regulatory framework approved in November 2025, which allows for stablecoin payment experiments within a sandbox environment, alongside provisions for tokenized stocks and bonds.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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