Experts warn that the delay in regulating digital currencies could result in up to 25 billion dollars in lost opportunities for Pakistan.
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 A report from the local newspaper Daily Times.
Masud emphasized the global stabilitycoin boom, and added that Pakistan is a part of it. “seriously considering a rupee-backed stablecoin” A Central Bank Digital Currency could increase financial access and reduce remittance fees.
Faisal Mahar, State Bank of Pakistan Deputy Director of Payments revealed that an CBDC prototype was already in development with support from the World Bank (WB) and International Monetary Fund. A pilot phase is planned prior to a full-scale rollout.
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ZAR is a stablecoin that will be available to Pakistanis who are not banked.
Pakistan’s plans to launch its stablecoin come shortly after ZAR – a fintech start up that is working on making dollar-backed, stablecoins available to users across emerging markets and Pakistan. raised $12.9 million in a funding round Andreessen Hoowitz (a16z) was the lead.
Dragonfly Capital was another investor, as were VanEck Ventures Coinbase Ventures Endeavor Catalyst and Endeavor Catalyst. ZAR is aiming to close the financial inclusion gaps in Pakistan, which has 240 million people, and where more than 100 million adults are unbanked.
Cointelegraph reports that Pakistan has moved up six spots to third position. Chainalysis’ 2025 Global Crypto Adoption IndexThe market is one of fastest-growing crypto markets in the world.
Related: Crypto helps emerging economies bypass legacy financial constraints
Pakistan invites international crypto firms to seek licenses
Pakistan welcomed international crypto-exchanges and virtual assets service providers in September. inviting them to apply for licenses A new federal regulatory structure is in place.
PVARA, the Pakistan Virtual Asset Regulatory Authority, has urged firms to express their interest in shaping Pakistan’s digital assets industry. PVARA, set up under the Virtual Assets Ordinance 2025The VASPs are regulated and supervised by.
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Source: cointelegraph.com
