Uzbekistan’s Central Bank and the National Agency for Perspective Projects have started a pilot for HUMO, a stablecoin pegged 1:1 to the Uzbek soum and backed by government securities. The test was announced on September 7, 2026, and covers the full lifecycle of the token—issuance, circulation and redemption—within a special legal regime for stable tokens.
HUMO Digital LLC has been admitted to the regime with Central Bank approval. Unlike dollar stablecoins such as USDT and USDC, HUMO is denominated in the domestic currency and backed by sovereign assets. More than 20 merchants are ready to participate, while licensed crypto company Asterium JSC, banks and other businesses will help connect banking, payment-processing and blockchain infrastructure.
The first phase is scheduled to run for 12 months and can be extended up to three years under joint supervision by the agency and the Central Bank. Regulators will assess reserve adequacy and safeguarding, transaction transparency, cybersecurity, consumer protection, anti-money-laundering compliance, and potential risks to monetary policy, financial stability and price stability.
The pilot is not a nationwide rollout and does not make HUMO legal tender. Instead, Uzbekistan is testing whether a government-securities-backed stablecoin can settle real payments while remaining connected to regulated financial infrastructure.
