7 December 2025
Speaking at Binance Blockchain Week, Saqib confirmed that Pakistan will “definitely launch” a national stablecoin and is simultaneously working on Central Bank Digital Currencies (CBDCs).
“This is an excellent way to collateralise government debt,” Saqib said. “We want to lead the wave of global financial digital innovation, not follow it—especially when we have both the capability and the adoption to be ahead.”
He made these comments during a panel on the future of virtual assets and regulation in emerging markets, organised by the Pakistan Crypto Council (PCC).
According to the council’s social media updates, Saqib stressed that clear, innovation-friendly crypto regulations are essential for economic growth in countries like Pakistan.
The PCC added that Pakistan’s progress on stablecoins, data frameworks, and financial inclusion initiatives could serve as important case studies for other nations.
The Pakistan Virtual Assets Regulatory Authority (PVARA) operates as an autonomous federal body with a multi-stakeholder board comprising the State Bank governor, the Securities and Exchange Commission chairman, and the Federal Board of Revenue chairman.
Its responsibilities include countering illicit finance, safeguarding consumers, and enabling opportunities in fintech, remittances, and tokenised assets, while promoting Shariah-compliant innovation through regulatory sandboxes.
Earlier in 2025, Saqib also introduced Pakistan’s first government-driven Strategic Bitcoin Reserve at Bitcoin Vegas, where he shared the stage with high-profile attendees such as US Vice President JD Vance, Eric Trump, and Donald Trump Jr.
In May, the government announced that 2,000 megawatts of electricity would be allocated in the first phase of a national programme designed to support Bitcoin mining and artificial-intelligence data centres.