Cointelegraph reported on Nov. 28, citing local media, that Uzbekistan plans to introduce a new regulatory framework allowing stablecoins as an official payment method.
Local media said pilot operations for stablecoin payments will begin through a tightly controlled sandbox.
The central bank and the National Agency for Perspective Projects are jointly running the effort. It includes a pilot project using distributed ledger technology. From 2025, companies in Uzbekistan will be able to issue tokenised stocks and bonds, and a dedicated platform will be created for their trading.
The central bank is reviewing the introduction of a central bank digital currency but is not considering a retail version. It aims to speed up settlement among commercial banks and is not expected to be used for daily transactions by the public.
Subscribe to the Digital Today Telegram news channel (click).
Chi-kyu Hwang
delight@d-today.co.kr