Pakistan is stepping into the forefront of digital finance as Pakistan goes Big on Crypto, blending innovation with strategic economic planning. The Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, confirmed that the country is preparing to launch its first stablecoin.
The introduction of the stablecoin marks a major step toward integrating virtual assets into Pakistan’s national economy. PVARA, an autonomous federal body, is governed by a multi-stakeholder board including the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission, and the Chairman of the Federal Board of Revenue.
The authority’s key responsibilities include curbing illicit financial activity, protecting consumers, promoting fintech and remittances, and fostering tokenized assets. It also supports Shariah-compliant innovation through regulatory sandboxes, creating a safe environment for crypto adoption.
Stablecoins are cryptocurrencies designed to maintain stable value, often pegged to assets like the US dollar or gold. Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, stablecoins allow users to conduct everyday transactions, trade, or transfer money across borders without worrying about sudden price swings. They achieve stability through reserves, other crypto backing, or algorithmic supply control, effectively acting as digital dollars with crypto speed and convenience.
Speaking at Binance Blockchain Week in UAE, Bilal Saqib emphasized Pakistan’s determination to lead in global digital finance rather than follow. He highlighted Central Bank Digital Currencies (CBDCs) as a tool to collateralize government debt and outlined how stablecoins, data frameworks, and financial inclusion initiatives could serve as global case studies.
Earlier this year, Pakistan goes Big on Crypto with the unveiling of the country’s first government-led Strategic Bitcoin Reserve at Bitcoin Vegas 2025. The announcement was made before a high-profile audience including US Vice President JD Vance, Eric Trump, and Donald Trump Jr.
With these initiatives, Pakistan goes Big on Crypto, signaling the nation’s ambition to become a leader in blockchain, fintech, and digital asset regulation while driving economic growth and innovation.
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