Pakistan is considering a rupee-backed stablecoin and a central bank digital currency (CBDC) to expand financial inclusion.
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.