🚹JUST IN: Pakistan to Launch First-Ever Digital Rupee Pilot

What’s Happening:

* đŸ”șThe State Bank of Pakistan (SBP) is preparing to launch a pilot program for its first-ever Central Bank Digital Currency (CBDC) as part of broader financial modernization efforts.

* đŸ”șLegislation nearly complete: The Virtual Assets Act, 2025 has been approved, establishing a regulatory framework for virtual assets and a licensing authority.

* đŸ”șThe SBP’s CBDC pilot will utilize Soramitsu’s blockchain platform, backed by funding from Japan’s Ministry of Economy, Trade and Industry under the Global South Future-Oriented Co-Creation Project.‹

* đŸ”șThe initiative aims to boost financial inclusion, reduce cash distribution costs, and modernize Pakistan’s payment systems, especially in rural, cash-dependent areas.‹

Why It Matters:

* âžĄïžPakistan joins a growing list of countries (e.g., China, India, Nigeria) exploring CBDCs to respond to the digital transformation of money.‹

* âžĄïžOffline transaction capability is being developed to accommodate limited internet coverage in remote areas—making this project scalable across similar developing markets.‹

#DigitalRupee #PakistanCBDC #SBP #FinancialInclusion #Blockchain #Soramitsu #CBDC #DigitalFinance #CashlessPakistan

BTC
BTCUSDT
68,022.7
+0.06%