Uzbekistan’s National Agency of Perspective Projects and central bank launched a pilot for stablecoin payments backed by government securities. Humo Digital received approval to test HUMO, a stablecoin pegged 1:1 to the som, inside a regulatory sandbox, with more than 20 merchants participating. The pilot will test issuance, circulation and redemption processes, with licensed crypto exchange Asterium serving as a partner. The program will run for 12 months, with a maximum total duration of three years, while regulators assess collateral adequacy, cybersecurity, consumer protection, anti-money laundering, and financial and price stability risks. The pilot is based on a framework approved in November 2025, when Uzbekistan planned to allow stablecoin payment trials in the sandbox and included provisions related to tokenized stocks and bonds.