Pakistan Set to Launch Its First Sovereign Stablecoin – PVARA Chairman Confirms

Pakistan is preparing to enter a new era of digital finance. Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), has confirmed that Pakistan will “definitely launch” a sovereign stablecoin. He made this announcement during Binance Blockchain Week in Dubai. This move marks an important step toward integrating digital assets into the economy.

A stablecoin is a type of cryptocurrency designed to maintain a steady value. Unlike Bitcoin and other volatile cryptocurrencies, its price is linked to a real-world currency, such as the US dollar. This makes it safer to use for buying, selling, and saving. According to global financial reports, stablecoins have become popular because they offer the speed of digital payments while remaining predictable in value.

Pakistan Set to Launch Its First Sovereign Stablecoin – PVARA Chairman Confirms

PVARA is a federal authority responsible for regulating virtual assets in Pakistan. Its board includes top officials such as the State Bank of Pakistan’s governor, the chairman of the Securities and Exchange Commission of Pakistan, and the head of the Federal Board of Revenue. The authority aims to reduce illegal financial practices, protect users, and promote innovation in areas like fintech, remittances, and tokenized assets. It also encourages Shariah-compliant digital products through testing environments called regulatory sandboxes.

Speaking on stage in Dubai, Bilal Bin Saqib said that Pakistan is working not just on stablecoins but also on Central Bank Digital Currencies (CBDCs). He explained that a stablecoin could help the government collateralize debt. This means it could support financial projects with secure, digital backing. Saqib said that Pakistan does not want to lag behind when the world is rapidly adopting digital finance. He emphasized that the country has the market size, talent, and usage potential to grow in this field.

The Pakistan Crypto Council also highlighted Saqib’s participation in a panel on virtual assets and emerging-market regulation. According to the council, Saqib stressed that clear and innovation-friendly regulation could boost economic growth. He also pointed out that Pakistan’s progress in digital banking, stablecoins, and data frameworks could become global examples for developing nations.

See Also: Pakistan’s Youth and Energy May Drive Global Bitcoin Adoption, Says Minister

This is not Pakistan’s first major announcement related to cryptocurrency. Earlier this year, Saqib revealed the country’s first Strategic Bitcoin Reserve. The announcement took place at Bitcoin Vegas 2025, where he addressed a prominent international audience, including U.S. Vice President JD Vance, Eric Trump, and Donald Trump Jr. The reserve aims to secure digital value for the country and open new financial opportunities.

In May, the government also unveiled a plan to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers. This shows that Pakistan sees digital mining and technology infrastructure as profitable future industries.

Launching a sovereign stablecoin could help Pakistan streamline payments, support international trade, and improve overseas remittances. It may also give citizens a safer digital financial option. Once the stablecoin becomes operational, it may open new doors for investment, digital innovation, and economic growth in Pakistan.