Uzbekistan central bank rejects retail CBDC, opts for stablecoins

The Central Bank of Uzbekistan has publicly stated it sees no value in a retail central bank digital currency, a notable deviation from the global trend of central banks exploring CBDCs. Instead, it will rely on stablecoins for digital payments, signaling a pragmatic, market-based approach. This is a policy stance shift that could influence other emerging-market central banks considering CBDC adoption.