Islamabad, July 10, 2025: The State Bank of Pakistan (SBP) is making preparations to introduce a pilot for a digital currency and is close to completing laws to oversee virtual assets, Governor Jameel Ahmad stated on Wednesday, as the nation accelerates efforts to upgrade its financial system.
Central banks across the globe are examining the use of digital currencies as enthusiasm grows for blockchain-based payment methods. Pakistan’s initiative follows similar actions taken by authorities in China, India, Nigeria, and several Gulf nations to experiment with or introduce digital currencies via controlled pilot schemes.
While speaking at the Reuters NEXT Asia conference in Singapore, Ahmad shared that Pakistan was “building up our capacity on the SBP digital currency” and expected to begin a pilot program soon.
READ MORE: SBP Governor Hints at Potential Launch of Digital Currency in Pakistan
Ahmad further mentioned that fresh legislation would “lay down the foundations for the licensing and regulation” of the virtual assets industry and noted that the SBP was already in discussions with certain technology collaborators.
READ MORE: Pakistan Crypto Council to Hold Meeting on Digital Currency Regulations
This development adds to prior efforts by the government-supported Pakistan Crypto Council, which was launched in March to promote the use of virtual assets. The PCC is investigating bitcoin mining using surplus electricity, has appointed Binance creator Changpeng Zhao as a strategic consultant, and is planning to set up a state-operated bitcoin reserve.
It has also initiated talks with American-based crypto companies, including the Trump-associated World Liberty Financial.
