Pakistan plans launch of first national stablecoin
Pakistan plans to introduce its first national “stablecoin” as part of a broader push to bring virtual assets into financial system
ISLAMABAD, Pakistan (MNTV) — Pakistan plans to introduce its first national “stablecoin” as part of a broader push to bring virtual assets into the formal financial system, the head of the Pakistan Virtual Assets Regulatory Authority (PVARA) announced.
Speaking at Binance Blockchain Week in Dubai, PVARA Chairman Bilal Bin Saqib said the country would “definitely launch” a stablecoin and was simultaneously exploring Central Bank Digital Currencies (CBDCs).
He argued the initiative could help “collateralize government debt” and position Pakistan among leaders in global financial technology, according to Dawn.
PVARA is an autonomous federal agency overseen by a multi-stakeholder board that includes representatives from the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan and the Federal Board of Revenue.
Its mandate includes combating illicit finance, safeguarding consumers, and opening new pathways in fintech, cross-border remittances, tokenized assets and Sharia-compliant digital financial products.
A stablecoin is a cryptocurrency whose value is pegged to a traditional currency — typically the U.S. dollar — making it far less volatile than decentralized assets like Bitcoin.
According to the Pakistan Crypto Council, Saqib also participated in a panel discussion on regulation in emerging markets, where he emphasized the need for “clear and innovation-friendly” policy environments to spur economic growth. The council said Pakistan’s work on stablecoins, data governance and financial inclusion could later serve as case studies for other countries.
Earlier this year, Saqib announced Pakistan’s first government-led Strategic Bitcoin Reserve after addressing an audience at Bitcoin Vegas 2025 attended by U.S. Vice President JD Vance, Eric Trump and Donald Trump Jr.
In May, the government allocated 2,000 megawatts of electricity in the first phase of a nationwide plan to support Bitcoin mining and artificial intelligence data centers.
We must take charge of our narrative. Research indicates that 92% of their Muslim coverage is negative. Help us change that.
Have Your Say!
Have you been affected by the issues raised in this story? Please share your experiences by emailing haveyoursay@soundvision.com.
Please include a contact number if you are willing to speak to a Muslim Network TV’s representative. You can also get in touch in the following ways:
Tweet: @MuslimNetworkTV
