Pakistan is preparing to introduce its first stablecoin as part of a broader effort to integrate virtual assets into the national financial landscape, according to an announcement made by the Pakistan Virtual Assets Regulatory Authority chairman Bilal Bin Saqib. The development signals a significant shift in how the country intends to approach digital finance, as authorities explore new structures to support fintech growth, tokenised assets and regulated use of blockchain based instruments. Saqib shared the update while speaking at Binance Blockchain Week in Dubai, marking one of the most prominent international platforms where Pakistan has discussed its digital asset plans in recent months.
PVARA operates as an autonomous federal authority governed by a multi stakeholder board that includes the governor of State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan and the chairman of the Federal Board of Revenue. The body is mandated to reduce illicit financial activity, safeguard consumers and unlock opportunities in digital payments, remittances, virtual asset issuance and tokenised investment models. It also aims to encourage Shariah compliant innovation through controlled regulatory sandboxes. Saqib noted that Pakistan is not only working on the national stablecoin but is also exploring Central Bank Digital Currencies in parallel, reflecting a move to establish stronger foundations for digital financial instruments within a regulated environment.
A stablecoin, as defined by Bloomberg, is a digital asset whose value is tied to a physical currency such as the United States dollar. This structure provides greater stability compared to highly volatile cryptocurrencies like Bitcoin. Saqib highlighted that a national stablecoin could present opportunities for Pakistan to collateralise government debt and strengthen the country’s position within global financial innovation. He stated that Pakistan has the capacity and adoption scale required to participate actively in emerging digital finance trends, suggesting that the country should not remain behind when it has the means to contribute to global innovation debates.
The Pakistan Crypto Council shared that Saqib also participated in a panel discussion focused on the future of virtual assets and regulatory frameworks for emerging markets. During the session, he underlined that clear and innovation friendly regulations are essential for countries seeking to unlock growth through digital assets. The council stated in a post on its X account that Pakistan’s initiatives involving stablecoins, data governance, and measures to support financially excluded populations could be used as reference cases for other developing economies. Earlier this year, Saqib announced the country’s first government led Strategic Bitcoin Reserve at the Bitcoin Vegas 2025 event, where he addressed an audience that included United States Vice President JD Vance, Eric Trump and Donald Trump Jr. This announcement formed part of Pakistan’s broader strategy to use digital asset initiatives for economic diversification and technology driven investment.
In May, the government further expanded its digital finance and infrastructure agenda by allocating two thousand megawatts of electricity for the initial phase of a national plan to support Bitcoin mining and artificial intelligence data centres. This allocation reflects a wider transition toward technology driven economic planning and the use of energy intensive computing resources. Pakistan’s push into stablecoins, digital frameworks and virtual asset regulation indicates a growing ambition to position the country within the expanding digital economy while developing structures that align innovation with regulatory oversight.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
