APPLICATION OF FINANCIAL TECHNOLOGIES AND ALTERNATIVE FINANCING IN THE CONTEXT OF UZBEKISTAN

. This study provides a comprehensive analysis of the application and development of financial technologies (fintech) and alternative financing mechanisms within the unique economic, legal, and infrastructural context of Uzbekistan. As the country transitions toward a digital economy under its “Digital Uzbekistan 2030” strategy, financial innovations have begun to reshape the way individuals, entrepreneurs, and institutions access and manage financial resources. The research focuses on several key alternative finance tools—peer-to-peer (P2P) lending, crowdfunding, digital banking, electronic payments, and the regulated use of cryptocurrency—and investigates their current use, regulatory framework, adoption barriers, and growth potential. Utilizing a mixed-methods approach that includes regulatory reviews, descriptive statistics, comparative analysis, and targeted surveys, the study explores both the opportunities and limitations of fintech integration in Uzbekistan. The results show a significant rise in digital payment systems and mobile banking users, but also highlight major gaps in legal infrastructure and public financial literacy, particularly in rural areas. Although Uzbekistan has made strides by introducing regulations for crypto-assets and promoting fintech startups, many alternative finance models remain underutilized due to legal ambiguity, institutional conservatism, and limited consumer awareness. This research concludes with practical recommendations aimed at enabling a more conducive environment for the expansion of fintech services. These include policy reforms, public-private collaborations, targeted education campaigns, and the establishment of a regulatory sandbox. The study contributes to the broader literature on fintech development in emerging economies and serves as a guide for regulators, financial institutions, and innovators seeking to harness the full potential of digital finance in Uzbekistan.