Humo Token, Backed by Government Bonds, Is Being Tested in Uzbekistan (UzDaily.com)

A new digital asset, the Humo token, secured by government bonds, is currently being tested in Uzbekistan.

Uzbekistan is testing a new digital asset, the Humo token, secured by government bonds, and linked to the national currency, with 1 HUMO being equal to 1000 sums, the press service of the Humo payment system reports.

The project is being implemented in accordance with Uzbekistan's legislation in the field of crypto assets. Several strategic partners are involved in its development. Among them is the Humo payment system, which serves more than 35 million cardholders in Uzbekistan. Thanks to Humo's broad integration with commercial banks, marketplaces, and retail structures, conditions are being created for the mass adoption of the token in daily transactions. The technical foundation of the project is provided by the companies Asterium and Broxus.

The project uses the Tycho blockchain protocol developed by Broxus. It is characterized by high transaction speed and low transaction costs, which is especially important for a large-scale national project. Among the advantages of the new token are transparency, high transaction speed, and reduced operational costs. The token operates on a public blockchain, where all transactions are recorded openly and are available to everyone.

“The launch of the Humo token is a significant event that will increase citizens' trust in the financial system, simplify payments for goods and services, and minimize the risks of fraud,” comments Alexey Maximov, Chairman of the Humo payment system.

“This initiative lays the foundation for building a new financial ecosystem, where modern technologies become an integral part of everyday life,” adds Komilkhuzha Sultonov, CEO of Asterium.

“The solutions used within the Tycho protocol are distinguished by their reliability and security, fully complying with international standards,” says Sergey Shashev, founder of Broxus.