Licence and launch

The regulatory base is yours. The integration is ours.

The issuer holds the licence; we do not give legal advice and do not stand in for the regulator. Below: the supervision this instrument operates under, and how your infrastructure connects to ours.

Licence

This activity is subject to mandatory licensing

Regulator — NAPP

In Uzbekistan, crypto-asset activity is licensed by the National Agency of Perspective Projects (NAPP), and the service is provided by a licensed partner. The type of licence and its requirements are determined by the regulator. The register of service providers and the current requirements are published by the agency.

napp.uz — service providers →

We do not publish an approximate reading of the licensing regime: on a page written for financial institutions, an error there would discredit everything else on it. The exact type and scope of licence are checked against the regulator's own source during the pilot.

What connects to what

Your infrastructure ↔ ours

The partner brings

NAPP licence
Fiat rails — som in and out
Capital and the coverage amount
KYC/AML and customer support

We provide

Deployed and verified contracts
Non-custodial wallet + Telegram Mini App
The coverage mechanism and settlement
Operator console

Order of launch

From pilot to production, in honest phases

Pilot on the testnet available now

A working demonstration on zkSync Era Sepolia: contracts, wallet, exchange, staking. Scenarios, rail integration and KYC on the partner's side can be exercised — with no real funds involved.

Independent contract audit before production

An external audit before any launch carrying real value. The internal adversarial review process already runs and is visible in the repository.

Multisig treasury before production

Administrative roles move off a single key onto a multisig — this takes priority over any monetisation.

Production issuance under the partner's licence when ready

Deployment to the production network, connection of fiat rails and of the issuer's covering capital, public launch.

We do not publish dates without grounds — they depend on the audit, on the partner's regulatory track and on the integration of its rails. They are discussed during the pilot.

What the partner's IT does

Points of integration

Fiat rails ↔ settlementSom in and out connects to the exchange and the settlement path — on the partner's side. Accounting for fiat entering and leaving follows the partner's own procedures.

KYC/AML ↔ onboardingCustomer checks are built into entry to the application under the partner's rules. The wallet is non-custodial — the key stays with the customer.

Operator consoleAdministration, setting the coverage amount, confirmations, statements — the issuer's operator interface.

Contracts on-chainReading state (coverage, balances) and operations go straight to the contracts — readable and checkable by anyone, including the partner's auditor.