Pakistan Explores Rupee-Backed Stablecoin Amid $25B Crypto Opportunity

Pakistan is actively evaluating the launch of a sovereign stablecoin pegged to the rupee, a strategic move that could unlock up to $25 billion in blockchain-related economic growth. Zafar Masud, President of the Pakistan Banks Association, emphasized the urgency of regulatory action during the Sustainable Development Policy Institute Conference: "Delaying crypto frameworks risks forfeiting billions in investment and innovation."

The proposed stablecoin initiative aligns with global trends in central bank digital currencies, with Masud highlighting Pakistan's demographic dividend and digital infrastructure as key advantages. "Our young population and thriving digital economy create ideal conditions for blockchain adoption," he noted, positioning the country as a potential fintech hub for South Asia.

Market analysts observe that Pakistan's entry into stablecoins could catalyze regional cryptocurrency adoption, though technical implementation challenges remain. The development follows warnings from financial experts about missed opportunities in digital asset markets, particularly for remittance-heavy economies.