Uzbekistan Launches Government-Backed HUMO Token to Boost Digital Finance

Uzbekistan's national payment system has introduced the HUMO token, a state-registered digital asset backed by government bonds. Issued by HUMO Digital, the subsidiary of the payment system, this initiative marks a significant advancement in the country's financial innovation landscape.

The token's collateral and safekeeping are overseen by regulatory bodies, ensuring stability and protection against volatility. HUMO's integration into Uzbekistan's banking and retail infrastructure positions it as a cornerstone of the nation's digital transformation.

Designed to attract foreign investment and streamline business payments, the HUMO token offers instant fiat conversion, reduced transaction costs, and blockchain-based transparency. The current phase focuses on testing settlement mechanisms.