Pakistan is moving steadily toward launching its first stablecoin, a major development in the country’s evolving digital asset landscape, as confirmed by Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA). The announcement was made during Binance Blockchain Week in Dubai, signaling a stronger push by the government to integrate virtual assets into its economic framework and establish Pakistan as an active player in global digital finance.
The PVARA, established as an autonomous federal authority, operates under a multi-stakeholder board that includes the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan and the chairman of the Federal Board of Revenue. Its mandate focuses on curbing illicit finance, protecting consumers, encouraging innovation in fintech and fostering compliant development of tokenised products. The authority also manages regulatory sandboxes aimed at promoting Shariah-aligned digital experimentation, reflecting Pakistan’s effort to advance safely into the virtual asset space.
Stablecoins are digital tokens whose value is pegged to a physical currency such as the US dollar, and therefore hold more stability compared to volatile cryptocurrencies like Bitcoin. During his remarks, Saqib expressed confidence in Pakistan’s readiness to issue such a digital asset. He stated that the country will “definitely launch” a stablecoin, while also revealing ongoing work on Central Bank Digital Currencies (CBDCs). According to him, a national stablecoin can serve as a tool for collateralising government debt and a gateway to broader financial digitization.
Saqib highlighted that Pakistan aims to keep pace with global digital transformation instead of adopting new financial technologies at a slow rate. He questioned why the country should lag behind when it has the potential and adoption capability to lead emerging markets in digital finance. His presence at the international event underscores Pakistan’s intention to be recognised as a country actively crafting forward-looking crypto and fintech policies.
The Pakistan Crypto Council (PCC) noted that Saqib also joined a panel discussion on regulatory development in emerging markets. In its post on X, the PCC stated that Saqib stressed the importance of clear and innovation-friendly regulations for countries like Pakistan. He pointed out that Pakistan’s work on stablecoins, digital frameworks and expanding financial access for the unbanked can serve as useful models for other nations.
The announcement follows several major digital asset initiatives led by the government this year. Earlier, Saqib introduced Pakistan’s first Strategic Bitcoin Reserve during Bitcoin Vegas 2025 in the United States. The event included key figures such as US Vice President JD Vance, Eric Trump and Donald Trump Jr, placing Pakistan into the global spotlight of digital finance. In May, the government unveiled a plan to allocate 2,000 megawatts of electricity to support Bitcoin mining and artificial intelligence data centres, demonstrating its commitment to building digital infrastructure for emerging financial technologies.
Pakistan’s push toward launching a national stablecoin reflects a broader shift toward regulated digital value systems, potentially opening new channels in fintech, remittances and cross-border transactions. As PVARA continues crafting frameworks for virtual assets, the launch could mark a pivotal moment in reshaping the country’s digital economy and positioning Pakistan as a frontrunner among regional adopters of regulated crypto innovation.
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