Uzbekistan has begun a pilot to test payments using HUMO, a stablecoin pegged to the national currency and backed by government securities. On Monday, the National Agency for Prospective Projects (NAPP) said it had registered Humo Digital as a participant in a special regime jointly overseen with the central bank. The trial will examine the issuance, circulation and redemption of HUMO, with each token pegged to one Uzbek som.
More than 20 merchants are prepared to accept HUMO for goods and services, while the project will integrate participating banks’ payment-processing and blockchain infrastructure. Asterium, a licensed crypto exchange, will act as a project partner.
According to the Central Bank of Uzbekistan, the initial trial will run for 12 months, with the overall project capped at three years. Regulators will assess collateral adequacy and safeguarding, cybersecurity, consumer protections, anti-money-laundering controls and risks to financial and price stability. The pilot follows a framework approved in November 2025, which also contemplated stablecoin payment trials under a sandbox and provisions for tokenized shares and bonds.
