ISLAMABAD – Pakistan is positioning itself at forefront of financial digitalization, blending crypto innovation with strategic economic planning, and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal Bin Saqib said the country is preparing to launch its first stablecoin.
The launch of country’s first stablecoin is said to mark major step toward integrating virtual assets into the national economy. PVARA, an autonomous federal body, is overseen by 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.
The authority is tasked with curbing illicit financial activity, protecting consumers, promoting fintech and remittances, and fostering tokenized assets, all while supporting Shariah-compliant innovation through regulatory sandboxes.
What are Stablecoins?
Stablecoins are type of cryptocurrency aimed to keep their value stable, usually by being linked to something like US dollar or gold. Unlike Bitcoin, which can fluctuate, stablecoins aim to stay steady so people can use them for everyday transactions, trading, or sending money across borders without worrying about big price swings.
They do this either by holding real money in reserve, backing them with other cryptocurrencies, or using algorithms to control supply. Stablecoins are like digital dollars that combine the stability of regular money with the speed and convenience of crypto.
They offer far more stability than volatile cryptocurrencies such as Bitcoin, Ethereum, and BNB.
Speaking at Binance Blockchain Week in UAE, Bilal Saqib confirmed launching Pakistan, also he sheds light on Central Bank Digital Currencies (CBDCs), calling it great way to collateralize government debt and stressed that Pakistan is determined to be a leader in global digital financial innovation rather than a follower.
Pakistan Crypto czar linked innovation-friendly crypto regulations with economic growth and suggested that Pakistan’s work on stablecoins, data frameworks, and financial inclusion could serve as valuable global case studies.
Earlier this year, Saqib unveiled Pakistan’s first government-led Strategic Bitcoin Reserve at Bitcoin Vegas 2025, in front of a distinguished audience including US Vice President JD Vance, Eric Trump, and Donald Trump Jr.
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