Uzbekistan to launch HUMO token secured by government bonds

The HUMO project involves national crypto service provider Asterium and international company Broxus, which specializes in developing blockchain solutions, including infrastructure for DeFi, CBDC, stablecoins, asset tokenization and process automation. 

The project is aimed at creating innovative methods to attract foreign investment, simplifying domestic and international settlements, increasing the transparency of financial transactions and building an even more attractive investment environment. The HUMO token will be secured by government bonds, which guarantees the stability of the secured token and neutralizes fluctuations in its value. 

It should be noted that the project is fully compliant with the applicable legal requirements that apply to crypto-asset turnover in the Republic of Uzbekistan. 

The key project participant is the HUMO payment system, a main driver of the digital transformation of the financial sector of  Uzbekistan. With over 35 million cards in issue and broad integration into the country's banking and commerce infrastructure, HUMO plays a vital role in the daily financial lives of millions of citizens. 

The introduction of a secured token within this ecosystem will strengthen control over  transactions, reduce the scale of shadow transactions and increase the level of trust in non-cash payments in the country, as well as facilitate inviting foreign investment to the country. 

In the course of this project, it is planned to attract Asterium, the national provider of services in the field of crypto-asset turnover, and Broxus, an international expert team developing the distributed ledger (blockchain) solutions. 

The project is to be launched on the basis of two technologies - EVM and TVM. Tycho has been chosen as the technological basis for TVM, a protocol that will ensure support for high loads, scalability and efficiency in terms of transaction costs. 

The secured HUMO token offers users a number of key advantages: instant and automated processes for exchanging the token

for fiat money without delays and intermediaries, reduced transaction costs, recording all transactions in a distributed ledger (blockchain) to increase the transparency and security of all transactions. 

The full transparency of transactions will make the use of the secured HUMO token an effective tool to combat financial fraud. The mechanism for issuing and circulating the secured HUMO token was developed taking into account integration into the financial infrastructure available in the country.

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