PANews reported on November 8th that, according to Pakistani local media DailyTimes, Zafar Masud, Chairman of the Pakistan Bankers Association (PBA), revealed that the country is seriously considering issuing a stablecoin backed by the Pakistani rupee. He warned that delays in digital asset regulation could result in the loss of up to $25 billion in economic development opportunities. Separately, Faisal Mazhar, Deputy Director of the Payments Department at the State Bank of Pakistan, stated that a prototype of a central bank digital currency (CBDC) is under development with assistance from the World Bank and the International Monetary Fund (IMF), and a pilot phase is planned before full rollout.PANews reported on November 8th that, according to Pakistani local media DailyTimes, Zafar Masud, Chairman of the Pakistan Bankers Association (PBA), revealed that the country is seriously considering issuing a stablecoin backed by the Pakistani rupee. He warned that delays in digital asset regulation could result in the loss of up to $25 billion in economic development opportunities. Separately, Faisal Mazhar, Deputy Director of the Payments Department at the State Bank of Pakistan, stated that a prototype of a central bank digital currency (CBDC) is under development with assistance from the World Bank and the International Monetary Fund (IMF), and a pilot phase is planned before full rollout.
Pakistan is developing a CBDC prototype and considering issuing a rupee-backed stablecoin.
PANews reported on November 8th that, according to Pakistani local media DailyTimes, Zafar Masud, Chairman of the Pakistan Bankers Association (PBA), revealed that the country is seriously considering issuing a stablecoin backed by the Pakistani rupee. He warned that delays in digital asset regulation could result in the loss of up to $25 billion in economic development opportunities. Separately, Faisal Mazhar, Deputy Director of the Payments Department at the State Bank of Pakistan, stated that a prototype of a central bank digital currency (CBDC) is under development with assistance from the World Bank and the International Monetary Fund (IMF), and a pilot phase is planned before full rollout.
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