Uzbekistan is kicking off a pilot project to test payments using a stablecoin that's backed by government bonds. Humo Digital will run transactions in HUMO with more than 20 merchants as part of this trial.

What’s happening

The country just launched a test program for a stablecoin whose value is pegged to government bonds. This is a limited pilot, with Humo Digital teaming up with a network of 20+ retail partners to see how it works in the real world.

How the test works

HUMO payments will be used for actual transactions with participating merchants. The whole idea is to keep it controlled—think of it as a sandbox phase to make sure the payment system runs smoothly before rolling it out wider.

Who’s overseeing the pilot

The trial is happening inside a regulatory sandbox under joint supervision from NAPP and the Central Bank of Uzbekistan. That means everything is happening within a set perimeter, with close oversight from the regulators throughout the test.