Uzbekistan is launching a pilot challenge to create the HUMO digital token, absolutely backed by authorities bonds, aiming to draw funding, improve transparency, and help the event of the digital economic system.
The HUMO cost system is initiating a pilot challenge in Uzbekistan to subject a token of the identical title, backed by authorities bonds. The challenge is concentrated on the digital transformation of the monetary system, streamlining transactions, and constructing belief in cashless funds.
The technical implementation will likely be carried out by nationwide crypto supplier Asterium and worldwide blockchain firm Broxus. HUMO will likely be deployed utilizing each the Ethereum Digital Machine (EVM) and TON Digital Machine (TVM), offering architectural flexibility and compatibility with varied good contracts.
Whereas the press launch doesn’t explicitly label HUMO as a stablecoin, a number of of its options resemble these of stablecoins:
- it’s backed by authorities bonds, giving it actual asset backing;
- its options embrace diminished volatility and assured worth stability;
- it helps on the spot fiat conversion with out intermediaries, with low transaction prices and excessive transparency.
The challenge is being applied in full compliance with the laws of the Republic of Uzbekistan relating to crypto-assets. The token will likely be built-in into the nation’s present monetary ecosystem, together with the HUMO cost infrastructure, which issued over 35 million playing cards and is broadly utilized by banks and retailers.
New digital providers are anticipated to be developed on the premise of the HUMO token sooner or later.
Aleksey Maksimov, Head of the HUMO cost system, emphasised that launching a backed token is a key step towards constructing a clear monetary system and accelerating the expansion of Uzbekistan’s digital economic system.
Uzbekistan is actively exploring crypto initiatives for a number of years. As an illustration, in 2023, a number of industrial banks obtained approval from the Nationwide Company for Perspective Tasks (NAPP) to subject plastic playing cards supporting digital belongings.
Сообщение Uzbekistan Launches Steady Token Backed by Authorities Bonds появились сначала на CoinsPaid Media.