Uzbekistan Plans Stablecoin Trials for Payments and Asset Tokenisation

Uzbekistan is preparing to pilot the use of stablecoins for payments, according to Vyacheslav Pak, first deputy director of the National Agency of Perspective Projects, who spoke to Uzbekistan 24 television.

The plans also include testing the tokenisation of assets on the stock market. Pak noted that President Shavkat Mirziyoyev had given instructions for the initiative, which will involve the Central Bank.

Stablecoins are cryptocurrencies whose value is pegged to money, commodities or digital assets. Unlike traditional crypto assets, which are highly volatile, stablecoins can be used for everyday transactions.

Earlier this year, US President Donald Trump signed a law on stablecoins, stating that the legislation allows the use of digital currencies backed by the dollar.

Kursiv Uzbekistan also reports that Easygroup has entered the cryptocurrency market with the launch of a new mobile app, Easybitcoin.app.