Uzbekistan launches HUMO stable token payment pilot

Uzbekistan has launched a 12-month pilot project to test the HUMO stable token as a means of payment. The initiative is being conducted under the supervision of the Central Bank of Uzbekistan and the National Agency of Perspective Projects (NAPP).

Issued by HUMO Digital LLC, the token is pegged 1:1 to the Uzbek soum and is expected to be backed by government securities. The project operates under a special regulatory sandbox designed to test the circulation of stable tokens. The pilot aims to assess the issuance, circulation, and redemption of the token, as well as its use for paying for goods and services. More than 20 businesses have expressed readiness to participate as merchants.

Key objectives include accelerating business settlements, improving transaction transparency and security, and identifying potential financial, operational, and cybersecurity risks. Asterium will serve as the technology partner for the project, which involves integrating banks, payment processing systems, and blockchain infrastructure. The total duration of the pilot may extend up to three years if necessary.