Uzbekistan launches pilot for government bond-backed stablecoin payments

Uzbekistan has launched a pilot project to introduce a stablecoin pegged to the som, the country’s local currency, for real-world goods and services payments, Cointelegraph reported. Humo Digital has been registered as a special regulatory participant and will test the full cycle of issuing, distributing and redeeming the HUMO stablecoin. More than 20 local stores and companies have completed preparations to test accepting the HUMO token as a payment method for physical products and services. The initial pilot will run for 12 months, while the project’s overall special-regime period can last up to three years.