The Central Bank of Uzbekistan has launched the HUMO stablecoin in test operation together with the National Agency for Perspective Projects under the government of the republic. The token’s rate is pegged to the sum, the national currency of Uzbekistan, and the authorities want to allow its use as an official means of payment within a limited experiment.
How HUMO Will Work
The Central Bank of the Republic of Uzbekistan plans to develop the project over three years. In the first stage, 20 legal entities will be allowed to participate in the test. The goal of the pilot is to check how HUMO works in real settlements.
- Participants: 20 legal entities admitted to testing.
- Permitted operations: payment for goods, works, and services in Uzbekistan.
- Integration: connecting HUMO to banking, processing, and blockchain infrastructure.
The issuance of HUMO is backed by government securities. For market participants, this is an important signal: this is not an investment instrument like a stock, but a payment token designed to simplify commercial settlements. In this model, bonds and other debt securities serve as part of a clear financial base, not a speculative story.
The regulator expects that the new mechanism will make settlements faster, safer, and more transparent. At the same time, HUMO is not a central bank digital currency in the classical sense: the project is launched as a regulated stable token, pegged to the sum and operating in a special legal regime. Its testing is not equivalent to the launch of a digital sum: currently, the authorities are specifically testing a payment stablecoin for a limited group of participants.
Who Is Responsible for Issuance and Infrastructure
The operator of HUMO is Humo Digital. It has received the status of a participant in the special legal regime created to regulate the circulation of stable tokens. The partner is Asterium, which has licenses to operate a crypto depository, crypto exchange, and crypto store. Thanks to this, Asterium is among the regulated crypto trading platforms operating in Uzbekistan.
For Uzbekistan, the launch of HUMO has become part of a broader agenda related to financial technologies, blockchain, and digital payments. Against this background, interest in topics such as artificial intelligence, GFTN, and new regulatory models only increases attention to solutions that help connect the traditional financial system and crypto infrastructure. In this regulatory agenda, Timur Ishmetov and Nodirbek Achilov are often mentioned as participants in discussions on the development of the financial and digital market.
Why the Project Was Launched Now
The special legal regime that allows the limited use of stablecoins for settlements has been in effect in Uzbekistan since January. The authorities announced plans to launch HUMO as early as May last year. At that time, the Central Bank stated that the token would be integrated into the HUMO payment system, which serves holders of more than 35 million cards.
At the same time, the country is developing other areas of the crypto industry. Notable steps include infrastructure projects in the autonomous republic of Karakalpakstan.
- Opening of a special economic zone for miners in Karakalpakstan.
- Construction of three mining farms.
- Construction of three data centers with a total value of $5.11 billion.
