New Framework Enables Stablecoin Payments, Tokenized Securities, and Digital Ledger Innovation by 2026
Uzbekistan is preparing to integrate stablecoins into its national payment framework through a newly approved regulatory sandbox. The program, set to begin on Jan. 1, 2026, will allow controlled testing of blockchain-based payment tools and tokenized financial instruments. Authorities say the move is part of a broader effort to modernize the country’s financial infrastructure using distributed ledger technology.
Stablecoins to Enter Formal Payment System
The new legislation creates a sandbox supervised by the National Agency for Perspective Projects alongside the central bank. Under this model, selected pilot projects will develop a stablecoin-backed payment system built on distributed ledgers. The initiative marks the first time stablecoins will be recognized for regulated payment use in Uzbekistan.
Starting next year, licensed companies in the country will also be permitted to issue tokenized shares and bonds, with trading conducted on a designated exchange platform tailored for digital securities. This expansion is expected to support emerging fintech services while maintaining regulatory oversight.
Central Bank Examines Digital Currency Options
Uzbekistan’s central bank has confirmed ongoing research into digital currencies, emphasizing a cautious approach. Officials note that any digital currency must operate under strict control due to its potential impact on monetary policy. While central bank digital currencies remain under study, current discussions focus on wholesale CBDC models for interbank settlement rather than retail use.
Uzbekistan’s push aligns with growing digital asset activity across Central Asia. Neighboring countries have advanced stablecoin pilots, digital reserves, and crypto enforcement measures, signaling that the region is rapidly adopting modern blockchain regulations.
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