Pakistan is preparing to enter the digital currency space, with the State Bank of Pakistan (SBP) gearing up for a pilot launch of a central bank digital currency (CBDC), SBP Governor Jameel Ahmad confirmed during the Reuters NEXT Asia summit in Singapore.
“We are building our capacity on central bank digital currency,” Ahmad said, adding that a pilot rollout is expected soon. He also revealed that Pakistan is in the final stages of drafting legislation to regulate virtual assets — a move that could reshape the country’s financial landscape.
The upcoming law will serve as a foundation for licensing and regulating virtual assets, offering a structured path for innovation in digital finance. The SBP is currently working with various technology partners to ensure a secure and efficient launch.
Governor Ahmad acknowledged the risks tied to digital assets but emphasized the need for balanced regulation. “This space brings challenges, but also great opportunities. We must manage the risks while ensuring we don’t miss out on the potential benefits,” he said.
In a major step forward, President Asif Ali Zardari has already approved the “Virtual Assets Act, 2025,” following endorsements from the Prime Minister and Federal Cabinet. This new legal framework signals the government’s commitment to embracing blockchain technology, digital assets, and fintech innovation — all within a regulatory and secure environment.
With this move, Pakistan joins a growing list of countries exploring state-backed digital currencies, aiming to modernize its financial system, increase transparency, and boost financial inclusion.
