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Pakistan Prepares Trial Run for Digital Currency

  • Pakistan, led by the State Bank of Pakistan (SBP), is preparing for a trial run of a digital version of the Pakistani rupee.
  • The SBP aims to test the digital currency within the financial system, joining other countries exploring blockchain-backed currencies.
  • In addition to the CBDC pilot, SBP is finalizing legislation to regulate the digital asset space, establishing standards for crypto-related activities.
  • Pakistan's move towards digital currency follows the formation of the Pakistan Crypto Council (PCC), aiming to update financial infrastructure and align with global trends.

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