Central Bank of Uzbekistan presents roadmap for digital soum

The Central Bank of Uzbekistan presented a three-year roadmap for studying the wholesale digital soum for 2026-2029, however, the final decision on launching the currency has not been made yet.

On September 24, representatives of the Central Bank reported on the regulator's plans at a press conference. The wholesale CBDC project based on distributed ledger technology is focused on banks and payment organizations, rather than on everyday calculations of individuals. As explained by the First Deputy Chairman of the regulator Nodirbek Saidullaev, the country already has a developed payment infrastructure, including Humo and Uzcard systems.

The plan is divided into three stages: in 2026-2027, macroeconomic, legal, and technical assessments are planned, as well as the publication of a White Paper; in 2027-2028, pilot testing in an isolated environment; in 2028-2029, evaluation of the results and possible connection of market participants. If the tests show no need for digital soum, the regulator will refuse to transition to the third stage and scaling.

As possible application scenarios, the regulator considers government procurement for controlling targeted spending, financing infrastructure projects with staged payment to contractors, as well as calculations in wholesale trade and subsidies.