Uzbekistan launched a pilot project to use the government securities-backed HUMO stablecoin to pay for goods and services.
Uzbekistan’s National Agency of Perspective Projects (NAPP), together with the country’s Central Bank, announced an initiative to test the use of stablecoins as a payment method.
Humo Digital will participate directly in the pilot, testing the issuance, circulation, and redemption of HUMO, a stablecoin pegged to the national currency and launched in 2025. The stablecoin is backed by government securities and can be used as an official payment method for goods, work, and services in Uzbekistan. The initiative will also test mechanisms for issuing, circulating, and redeeming HUMO.
Asterium, a licensed cryptocurrency infrastructure operator in Uzbekistan, will serve as the project’s technology partner. The company holds licenses for crypto asset custody, buying and selling crypto assets, and operating exchange trading.
More than 20 merchants will participate in the project. The pilot will integrate the banking, processing, and blockchain infrastructure of its participants, enabling HUMO transactions within a unified payment framework. Banks and other financial institutions will also take part in testing HUMO payments.
The pilot will run for up to 3 years under the joint supervision of NAPP and the Central Bank of Uzbekistan. The regulators plan to assess whether stablecoins can accelerate business settlements, improve transaction transparency, and enhance transaction security. At the same time, participants will identify risks associated with the new payment infrastructure and develop mechanisms to mitigate them. The results of the pilot are expected to determine the potential for broader use of stablecoins and blockchain infrastructure in Uzbekistan’s financial sector.
In 2025, Uzbekistan’s president signed a resolution providing for the legalization of stablecoins as a payment instrument on a pilot basis.
