Pakistan Confirms Plans to Launch Its First Sovereign Stablecoin, Says PVARA Chairman

Pakistan Confirms Plans to Launch Its First Sovereign Stablecoin, Says PVARA Chairman

Pakistan is gearing up for a major leap in digital finance as the country prepares to introduce its first-ever sovereign stablecoin. Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), officially confirmed the move during Binance Blockchain Week in Dubai, signaling Pakistan’s entry into the global digital currency landscape.

What Is a Stablecoin and Why Does It Matter?

A stablecoin is a cryptocurrency designed to maintain a fixed value—usually pegged to assets like the US dollar—making it far less volatile than traditional cryptocurrencies such as Bitcoin. Stablecoins are gaining global popularity because they combine predictable value with fast, modern digital payment capabilities.

PVARA’s Role in Pakistan’s Digital Finance Transformation

PVARA is the federal body regulating virtual assets in Pakistan. Its governing board includes key financial regulators like the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan, and the Federal Board of Revenue.

The authority’s goals include:

Combating illegal financial activity

Protecting users in the digital asset ecosystem

Encouraging fintech innovation and remittance solutions

Supporting tokenized assets and Shariah-compliant digital products

PVARA also operates regulatory sandboxes to help new digital financial technologies grow securely.

Pakistan Working on Stablecoins and CBDCs

During his speech in Dubai, Saqib revealed that Pakistan is developing both a sovereign stablecoin and Central Bank Digital Currencies (CBDCs). He noted that a state-backed stablecoin could help the government collateralize debt, providing secure digital support for national financial projects.

Saqib emphasized that Pakistan cannot afford to fall behind as global adoption of digital finance accelerates. With its large population, strong talent pool, and growing digital usage, Pakistan has the potential to become a regional leader in virtual assets.

Global Recognition for Pakistan’s Digital Asset Progress

The Pakistan Crypto Council highlighted Saqib’s participation in a high-profile panel on emerging-market regulation. He stressed that clear and innovation-friendly regulations can fuel economic expansion. Pakistan’s advancements in digital banking, stablecoins, and secure data systems could serve as a model for developing countries worldwide.

Recent Crypto Initiatives: Bitcoin Reserve and Mining Expansion

This announcement follows other major crypto developments from Pakistan. Earlier this year, Saqib unveiled the country’s first Strategic Bitcoin Reserve at Bitcoin Vegas 2025, aimed at securing long-term digital value for the nation.

Additionally, the government announced plans to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers—showcasing Pakistan’s push toward future-focused digital industries.

How Pakistan’s Sovereign Stablecoin Could Transform the Economy

A national stablecoin could:

Streamline local and international payments

Improve cross-border trade efficiency

Support overseas remittances

Provide citizens with a secure digital currency option

Attract foreign investment and encourage fintech innovation

Once launched, Pakistan’s sovereign stablecoin has the potential to open new economic pathways and strengthen its role in the global digital economy.