Pakistani authorities are considering launching a rupee-backed stablecoin. This is especially relevant now, as experts warn that delays in regulating digital assets could cost the country up to $25 billion in lost economic opportunities.
Pakistan Bankers Association President Zafar Masood said the country could gain between $20 billion and $25 billion from cryptocurrency-related growth.
Masood noted the rapid growth of the global stablecoin market and added that Pakistan is “seriously considering issuing a rupee-backed stablecoin,” and the central bank’s digital currency (CBDC) can improve access to financial services and reduce the cost of remittances.
Faisal Mazhar, Deputy Director of Payments at the State Bank of Pakistan, said a prototype is already being developed with the assistance of the World Bank and the International Monetary Fund (IMF). CBDC, and before full implementation, a pilot phase is planned.
Pakistan has been actively developing the cryptocurrency space in recent years and already ranks third in Chainalysis’s 2025 Global Cryptocurrency Adoption Index, moving up six spots to cement its status as one of the fastest-growing cryptocurrency markets in the world.