Pakistan Seeks Stablecoin Solution to Remittance Transfer Costs

Pakistan is exploring regulated stablecoins as a cheaper alternative for remittances, which could potentially save $400 million annually if transaction costs fall by just one percentage point. PVARA Chairman Bilal bin Saqib said that Pakistan receives roughly $40 billion in annual remittances through traditional international banking channels.

The country is examining blockchain-based solutions for cross-border payments, digital exports, trade finance, private credit, and tokenised financial assets as part of a broader government strategy to find economic applications for virtual assets. The proposed transformation includes establishing the legal framework, licensing credible operators, strengthening anti-money-laundering controls, and developing use cases that deliver measurable economic benefits.

The global stablecoin market has already exceeded $300 billion, with more than $35 billion worth of real-world assets moving onto blockchain infrastructure, according to Saqib. The participation of major financial institutions such as BlackRock and Goldman Sachs is cited as evidence that the technology is moving beyond the experimental stage.