Pakistan is preparing to launch its first national stablecoin as the country moves toward deeper integration of virtual assets within its economy. The announcement was made by Bilal bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority, during Binance Blockchain Week. He stated that the country will also work on developing Central Bank Digital Currencies as part of its long term digital finance strategy.
Saqib highlighted that a stablecoin could help collateralise government debt and strengthen Pakistan’s position in global financial innovation. He emphasized that markets like Pakistan can achieve economic growth through clear, innovation friendly crypto regulation. Industry organisations have noted that Pakistan’s progress on stablecoins, digital frameworks and financial inclusion efforts could serve as a model for other emerging economies.
The initiative aligns with PVARA’s mandate to curb illicit finance, protect consumers and expand opportunities in fintech, remittances and tokenised assets. Recent government moves, including the creation of a Strategic Bitcoin Reserve and the allocation of 2,000 megawatts of electricity for Bitcoin mining and AI data centres, signal a broader national commitment to building a modern and regulated digital asset ecosystem.
However, there are no news about crypto regulations as crypto users in Pakistan have to face legal challenges as they use crypto exchanges and during onboarding or offboarding their digital assets. Citizens of Pakistan are eagerly waiting for clear laws in this regard while Ruppee backed stable coin might be good at national level it has hardly any impact on day to day crypto users of Pakistan and they are questioning the policy makers to provide some clarity in this regard
