Uzbekistan Allows Two Banks to Issue Crypto Cards

08/16 09:00

Kapital Bank and Ravnaq Bank, two private banks, have been approved by the National Agency of Project Management of Uzbekistan (NAPP) to participate in the digital sandbox for cryptocurrency regulation. They will issue plastic cryptocurrency cards supported by Mastercard. According to the press release, the Uzbekistan cryptocurrency card will be called UzNEX and it will integrate a bank account that can access cryptocurrency exchanges and automatic exchange mechanisms. The card will be supported by Mastercard, one of the world's leading payment systems. Currently, the deadline for the two banks to launch the cryptocurrency card to customers is December 2023. Kapital Bank and Ravnaq are still among the three registered participants of the national digital sandbox.

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