Why is this important
These are the initial steps towards integrating digital assets into payments and the capital market in Uzbekistan. The solution will enable testing new technologies and establishing a foundation for their expansion.
What happened
- A fintech office is being set up by the Central Bank to oversee projects.
- The NAPP and the Central Bank will approve stablecoins as a means of settlement.
- Simultaneously, projects for the tokenization of securities will be launched.
Context
In July, the Humo payment system piloted the issuance of tokens backed by Uzbek government bonds. The instrument is positioned as a universal mechanism for cross-border settlements, including transactions with Russian companies.
