Uzbekistan pilots HUMO stablecoin backed by government bonds

Uzbekistan is piloting the HUMO stablecoin, pegged to the som and backed by government bonds, with 20+ merchants. The three-year project tests HUMO as a payment method and integrates banking and blockchain systems.

Uzbekistan has initiated a pilot project to test the HUMO stablecoin, which is pegged 1:1 to the Uzbek som and backed by government securities. The project is jointly supervised by the National Agency for Perspective Projects and the Central Bank, and involves more than 20 merchants. The main goal is to assess the issuance, circulation, and redemption of HUMO as an official payment method for goods and services. Humo Digital serves as the issuer, while Asterium supplies the blockchain infrastructure. The pilot will integrate banking, processing, and blockchain systems, and is expected to last up to three years. Throughout the trial, regulators will evaluate collateral adequacy, cybersecurity, consumer protection, and financial stability risks. This initiative is part of a broader regulatory framework, approved in November 2025, aimed at advancing financial services and payment technologies in Uzbekistan.