Pakistan is considering launching a rupee-backed stablecoin, as experts warn that delays in regulating digital assets could cost the country up to $25 billion in lost economic opportunities.
Speaking at the Sustainable Development Policy Institute (SDPI) Conference on Friday, Pakistan Banks Association (PBA) President Zafar Masud said the nation could unlock $20–$25 billion in crypto-related growth, according to a report by local news outlet Daily Times.
Masud pointed out the booming global stablecoin market, adding that Pakistan is “seriously considering a rupee-backed stablecoin” and that a Central Bank Digital Currency (CBDC) could improve financial access while reducing remittance costs.
Pakistan’s plan to launch its own stablecoin comes shortly after ZAR, a fintech startup working to make dollar-backed stablecoins accessible to everyday users in Pakistan and other emerging markets, raised $12.9 million in a funding round led by Andreessen Horowitz (a16z).
You need to login in order to Like
Leave a comment