Uzbekistan will test the use of stablecoins (digital currencies) for payments,and asset tokenization in the stock market, the First Deputy Director of the National Agency for Prospective Projects (NAPP) Vyacheslav Pak told the Uzbekistan 24 TV channel.
According to him, President Shavkat Mirziyoyev gave the relevant directive to the NAPP together with the Central Bank at a government meeting Wednesday.
He emphasized that the agency’s team, together with the Central Bank and other involved ministries and departments, “will make every effort to fulfill the directive of the head of state.”
Earlier, Kyrgyzstan reported that in 2025, it plans to launch the USDKG stablecoin, a token backed by gold and pegged to the US dollar. The project is being implemented with the support of the Ministry of Finance of Kyrgyzstan, which is expected to provide $500 million in gold as a token reserve. The stablecoin will be used in cross-border transactions and international trade with a focus on Central Asia.
