• Uzbekistan’s HUMO payment system has launched a token backed by government bonds, registered with the national crypto-asset regulator.
  • The token aims to simplify payments, attract foreign investment, and ensure transparency using blockchain technology.

In a significant move toward digital financial innovation, Uzbekistan’s national payment system, HUMO, has launched a government bond-backed token.

Issued by HUMO Digital, a subsidiary of the system, this development marks a notable advancement in the country's financial infrastructure.

The HUMO token is officially registered in the Unified Electronic Register of Crypto-Assets, overseen by the National Agency for Prospective Projects (NAPP). Its collateral is securely managed by Asterium, a licensed crypto depository.

By tying the token to Uzbekistan’s government bonds, it gains a layer of stability and protection against volatility, offering both security and trust in its usage.

Bridging Digital and Traditional Finance

With over 35 million bank cards in circulation, HUMO is deeply embedded in Uzbekistan’s financial ecosystem. Its token aims to enhance cross-border payments, attract foreign investment, and simplify transactions for businesses and individuals.

The asset offers features such as instant fiat conversion, reduced transaction costs, and transparency through blockchain-backed records.

The token is currently undergoing testing to assess its integration and settlement mechanisms with businesses and retail users.

This phase will help identify practical use cases and improve its effectiveness in real-world scenarios.

Plans are in place to list the token on digital trading platforms and integrate it with existing payment systems. HUMO’s infrastructure is designed to support the token seamlessly within Uzbekistan’s financial architecture.

Maqsad Mukhitdinov, Acting Chairman of the Board of the National Interbank Processing Centre, stated the token reflects a natural evolution in the ecosystem, blending blockchain benefits with the nation’s payment backbone.

Komilkhuzha Sultonov of Asterium emphasised the project's potential in shaping a resilient financial environment and driving Uzbekistan’s digital transformation.

Edited by Annette George