Pakistan announced plans to launch its first government-backed stablecoin as a key step in integrating virtual assets into its national economy.

Regulatory Push

Pakistan plans to launch its first government-backed stablecoin as part of a strategic effort to integrate virtual assets into the national economy, the country’s top regulator announced on Dec. 6.

Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), shared the initiative with delegates at Binance Blockchain Week in Dubai. He confirmed that the stablecoin effort is progressing in parallel with work on central bank digital currencies (CBDCs).

“It is a great way to collateralize government debt,” Saqib said, emphasizing Pakistan’s ambition. “We want to be at the forefront of financial digital innovation. Why should we be at the tail-end when we have the muscle and adoption?”

During a panel discussion on emerging-market regulation, Saqib reportedly stressed the necessity of clear, innovation-friendly rules for stimulating economic growth, according to a post on X by the Pakistan Crypto Council.

The stablecoin announcement follows several major digital asset initiatives by Pakistan this year. In a keynote at Bitcoin Vegas 2025 in Las Vegas, Saqib unveiled the nation’s first Strategic Bitcoin Reserve. Earlier this year, Islamabad also allocated 2,000 megawatts of electricity in the first phase of a national plan to power Bitcoin mining and artificial intelligence data centers.

Read more: Bitcoin Reserve Chaos: Pakistan’s Big Reveal Crushed by Own Government

Commitment to a Forward-Looking Framework

Meanwhile, the Pakistan Finance Ministry confirmed in a post on X that Finance Minister Muhammad Aurangzeb co-chaired a high-level consultative meeting on the country’s National Digital Asset Framework.

At the meeting, Minister Aurangzeb reaffirmed Pakistan’s commitment to a forward-looking regulatory environment that both protects national interests and enables technological progress.

pakistan launch CBDC Coin