Crypto
Uzbekistan starts bond-backed stablecoin payments pilot
Uzbekistan has launched a pilot programme to use HUMO, a stablecoin pegged to the Uzbek som, for payments for goods and services. The bond-backed stablecoin is being tested in a regulatory sandbox to gauge the potential to expand digital payment infrastructure. The trial will cover issuance, circulation and redemption, as well as payments at merchants. Authorities will review collateral sufficiency, transparency, cybersecurity, consumer protection and anti-money laundering controls.
