The Tashkent Interdistrict Economic Court has declared Maroqand Joint-Stock Company, the owner of the UPay payment system, insolvent and has initiated liquidation proceedings.
According to the court’s ruling issued on 2 February 2026, Maroqand JSC was officially recognized as bankrupt due to its inability to meet financial obligations. The decision launches a formal process to dissolve the company.
Maroqand JSC owns UPay, a digital payment service designed for managing personal funds, paying for government services, mobile communications, internet access, online games, transferring money between bank cards, and topping up electronic wallets. The company is part of the Humans fintech ecosystem,…