Uzbekistan's National Agency for Prospective Projects (NAPP) announced Monday the launch of a pilot project to test a stablecoin pegged to the Uzbekistani som and backed by government securities. The initiative registers Humo Digital as a participant under a special regime jointly supervised with the central bank. The pilot will examine the issuance, circulation, and redemption of HUMO tokens, each worth 1 som. More than 20 merchants have signed up to accept HUMO payments, and the project will integrate payment processing and blockchain infrastructure from participating banks. Licensed crypto exchange Asterium will serve as a partner. The central bank stated the initial trial will run for 12 months, with a total project cap of 3 years. Regulators will assess the sufficiency and security of collateral, cybersecurity, consumer protection, anti-money laundering controls, and risks to financial and price stability. The pilot follows a framework approved in November 2025, which outlined plans for stablecoin payment experiments under a regulatory sandbox and included provisions for tokenized stocks and bonds.

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Uzbekistan establishes the Besqala Mining Valley in Karakalpakstan, offering miners a tax exemption until 2035 and access to renewable energy. The move aims to attract mining firms amid regional shifts in Central Asia's crypto landscape.

Uzbekistan is creating the Besqala Mining Valley in Karakalpakstan, offering crypto miners tax exemptions until 2035, grid access, and licensing support as it seeks to strengthen its position in Central Asia’s growing mining market.

Uzbekistan establishes the 'Besqala Mining Valley' special economic zone in Karakalpakstan, offering tax exemptions until 2035 for crypto miners. The move aims to compete with regional leaders Kazakhstan and Kyrgyzstan, leveraging renewable energy and hydrogen power to attract mining firms.

Uzbekistan creates 'Besqala Mining Valley' in Karakalpakstan, offering miners tax exemptions until 2035, grid access, and hydrogen power. It aims to catch up with Kazakhstan and other regional mining hubs, attracting miners with favorable policies.

Uzbekistan has created a special economic zone 'Besqala Mining Valley' in Karakalpakstan, offering crypto miners income tax exemption until 2035, grid access, and hydrogen power. It aims to catch up with Kazakhstan amid regional mining competition.