Pakistan is considering launching a rupee-backed stablecoin, potentially unlocking $20-25 billion in crypto-related growth opportunities. The nation is exploring the booming global stablecoin market and considering a Central Bank Digital Currency to improve financial access and reduce remittance costs.

Faisal Mazhar, Deputy Director of Payments at the State Bank of Pakistan, revealed that a CBDC prototype is in development with assistance from the World Bank and IMF. ZAR, a fintech startup, raised $12.9 million to make dollar-backed stablecoins accessible in Pakistan, targeting the 240 million population where over 100 million adults are unbanked.

Pakistan ranks third in global crypto adoption, according to Chainalysis’ 2025 Global Crypto Adoption Index. The country has invited international crypto exchanges and VASPs to apply for licenses under a new federal regulatory framework. The Pakistan Virtual Asset Regulatory Authority (PVARA) is tasked with licensing, regulating, and supervising VASPs to shape the emerging digital asset industry.

Read more at CoinTelegraph: Pakistan Mulls Rupee-Backed Stablecoin as Experts Warn of $25B Loss