Uzbekistan Central Bank announces digital som pilot in 2026-2030 fintech strategy
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Uzbekistan's Central Bank announced a 2026-2030 national fintech strategy that includes piloting a digital som. Deputy Chairman Nodirbek Saydullayev said retail payments are not the initial focus, citing existing Humo and Uzcard infrastructure. Wholesale and inter-organizational settlements are a possible use case.
Key Facts
- The Central Bank of Uzbekistan announced a national fintech development strategy for 2026-2030 that includes a digital som pilot.
- Deputy Chairman Nodirbek Saydullayev said retail payments are not the primary focus for the digital som because Humo and Uzcard already provide sufficient non-cash payment infrastructure.
- Wholesale trade and inter-organizational settlements are a possible use case for the digital som, according to Saydullayev.
Digital Som Pilot
The Central Bank of Uzbekistan announced a national fintech development strategy for 2026-2030 that includes a digital som pilot. The digital som is a central bank digital currency, distinct from electronic money on bank cards or mobile apps. The Central Bank will first study the necessity, economic and technological impact, and potential risks of such a system for Uzbekistan. At a press conference on September 24, Central Bank officials answered questions about how the digital som would work and its pilot project in the coming years.
Use Cases
Deputy Chairman Nodirbek Saydullayev said retail payments are not the primary focus for the digital som because Humo and Uzcard already provide sufficient non-cash payment infrastructure. Wholesale trade and inter-organizational settlements are a possible use case for the digital som, according to Saydullayev.
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