Pakistan Explores Blockchain for Faster, Cheaper Remittances Amid Crypto Surge

Pakistan’s Blockchain Push: Revolutionizing Remittances Amid Crypto Growth

Pakistan, a top global recipient of remittances, is turning to blockchain technology to address inefficiencies in cross-border money transfers. With over $31 billion sent by overseas Pakistanis in 2023-24 through traditional channels, the country faces high fees—often exceeding 5%—and slow processing times. Blockchain solutions promise to cut costs and streamline these transactions, offering a lifeline to millions who rely on remittances.

Bilal bin Saqib, chief adviser to Pakistan’s finance minister and a member of the Pakistan Crypto Council (PCC), revealed that the council is actively investigating blockchain-based remittance systems. Speaking to CoinDesk, Saqib emphasized the potential of blockchain to transform financial services while also fostering economic growth through Web3 development and workforce upskilling.

Why Blockchain Matters for Pakistan’s Economy

Despite a 2018 ban on cryptocurrency transactions, Pakistan ranks prominently in Chainalysis' 2024 Global Crypto Adoption Index. Many citizens have turned to digital assets as a hedge against inflation and currency volatility. With over 60% of its 240 million population under 30, Pakistan boasts a young, tech-savvy workforce ready to embrace blockchain innovation.

The PCC’s initiatives extend beyond remittances. The council is exploring tokenization of real-world assets, regulatory sandboxes, and compliance with Financial Action Task Force (FATF) standards. While the FATF removed Pakistan from its gray list in 2022, concerns over unregulated crypto outflows persist. Saqib stressed the importance of a transparent regulatory framework, including Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, to mitigate risks.

Global Crypto Trends and Pakistan’s Position

Pakistan’s blockchain ambitions align with broader global shifts in crypto policy. Former U.S. President Donald Trump recently voiced support for digital assets, proposing a strategic Bitcoin reserve funded by seized crypto holdings. While such initiatives are still nascent in Pakistan, Saqib noted that any similar move would require careful coordination with the International Monetary Fund (IMF) and FATF to avoid economic instability.

The Road Ahead: Challenges and Opportunities

The PCC’s efforts to integrate blockchain into Pakistan’s financial ecosystem face hurdles, including regulatory uncertainty and the need for public education. However, the potential benefits—reduced remittance costs, increased financial inclusion, and economic growth—make the case for blockchain adoption compelling.

As Pakistan navigates its crypto journey, the country’s young, tech-savvy population and strategic focus on blockchain innovation could position it as a leader in the global digital economy. For now, the PCC’s initiatives signal a promising start toward leveraging blockchain for transformative change.

Zřeknutí se odpovědnosti
Tento obsah je poskytován jen pro informativní účely a může se týkat produktů, které nejsou ve vašem regionu k dispozici. Jeho účelem není poskytovat (i) investiční poradenství nebo investiční doporučení, (ii) nabídku nebo výzvu k nákupu, prodeji či držbě kryptoměn / digitálních aktiv ani (iii) finanční, účetní, právní nebo daňové poradenství. Držba kryptoměn / digitálních aktiv včetně stablecoinů a NFT s sebou nese vysokou míru rizika, a tato aktiva mohou značně kolísat. Měli byste pečlivě zvážit, zda jsou pro vás obchodování či držba kryptoměn / digitálních aktiv s ohledem na vaši finanční situaci vhodné. Otázky týkající se vaší konkrétní situace prosím zkonzultujte se svým právním/daňovým/investičním poradcem. Informace (včetně případných tržních dat a statistických informací), které se zobrazují v tomto příspěvku, slouží výhradně k informativním účelům. I když jsme přípravě těchto dat a grafů věnovali řádnou péči, nepřebíráme žádnou odpovědnost za případné faktické chyby, opomenutí nebo názory, které v nich vyjádřené.

© 2025 OKX. Tento článek může být reprodukován nebo šířen jako celek, případně mohou být použity výňatky tohoto článku nepřekračující 100 slov za předpokladu, že se jedná o nekomerční použití. U každé reprodukce či distribuce celého článku musí být viditelně uvedeno: „Tento článek je © 2025 OKX a je použit na základě poskytnutého oprávnění.“ U povolených výňatků musí být uveden název článku a zdroj, a to např. takto: „Název článku, [místo pro jméno autora, je-li k dispozici], © 2025 OKX.” Z tohoto článku nesmí být vytvářena odvozená díla ani nesmí být používán jiným způsobem.

Související články

Zobrazit více
Memecoins generic thumb
Memecoins
Web3

What is a memecoin supercycle: real or a reality check?

Is the memecoin supercycle real? Instead of being an idealized take on how liquidity in the crypto market will flow, the concept of a memecoin supercycle has recently gained traction as crypto traders eagerly anticipate the idea of a memecoin bull market driven by memecoin excitement. The data seems to back this theory too, as the crypto market has witnessed a steady rise in memecoin adoption in recent months as traders choose to purchase and hold onto digital assets inspired by internet culture and memes. Does the memecoin supercycle theory hold weight or is it just another crypto supercycle reality check for bullish traders?
23. 5. 2025
7
trends_flux2
Altcoin
Trending token

Ant Digital Technologies Unveils Jovay: Revolutionizing Real-World Asset Tokenization

Introduction: Ant Digital Technologies and Jovay In a bold move to redefine the landscape of digital finance, Ant Digital Technologies has launched Jovay, a Layer 2 blockchain solution designed specifically for Real-World Asset (RWA) transactions. This announcement was made during the RWA REAL UP Dubai Summit 2025, a gathering of industry leaders, blockchain innovators, and regulators. Jovay promises to transform the way tangible assets are traded on the blockchain, offering unprecedented speed and efficiency.
30. 5. 2025
trends_flux2
Altcoin
Trending token

Unlocking the Potential of Volo Staked SUI: A New Era in Liquid Staking

Introduction to Volo Staked SUI (VSUI) Volo Staked SUI (VSUI) is making waves in the cryptocurrency world as a liquid staking token that enhances the utility and liquidity of SUI. Unlike traditional staking, where assets are locked, VSUI allows users to engage in decentralized finance (DeFi) applications while still earning staking rewards. This innovation is particularly appealing to young, crypto-curious investors looking to maximize their returns without sacrificing flexibility.
30. 5. 2025
trends_flux2
Altcoin
Trending token

Ethereum Meme Coins: The Rising Stars of Crypto Culture

Introduction to Ethereum Meme Coins Ethereum meme coins have become a significant part of the cryptocurrency landscape, offering a unique blend of humor, community engagement, and speculative investment opportunities. These tokens, often inspired by internet memes, have gained traction due to Ethereum's robust ecosystem, which provides deep liquidity and accessibility. Notable examples like Shiba Inu (SHIB) and Pepe (PEPE) have demonstrated the potential for meme coins to achieve substantial market capitalizations and trading volumes.
30. 5. 2025
trends_flux2
Altcoin
Trending token

Recall Network: Transforming AI Competitions with Blockchain Transparency

Introduction to Recall Network In the rapidly evolving world of artificial intelligence and blockchain, Recall Network emerges as a groundbreaking platform that combines the transparency of blockchain with the competitive spirit of AI. Recall is a decentralized intelligence network where autonomous AI agents compete in real-time, onchain challenges. This innovative approach not only showcases AI capabilities but also ensures that every action and decision is verifiable and permanently stored on the blockchain.
30. 5. 2025
trends_flux2
Altcoin
Trending token

Ethereum's Pectra Upgrade: A Game-Changer for Crypto Investors

Ethereum's Pectra Upgrade: A New Era for Blockchain Ethereum, the world's second-largest cryptocurrency, has recently rolled out its latest major update, known as Pectra. This upgrade is being hailed as a pivotal moment for Ethereum, akin to how streaming services revolutionized media consumption. Sean Sanders, CEO of an alternative investing platform, likens it to making Ethereum accessible to the masses, much like Netflix did for movies.
30. 5. 2025
Zobrazit více