Pakistan Eyes $400M Remittance Savings via Stablecoins, Says PVARA Chief

Pakistan aims to save approximately $400 million annually by leveraging regulated stablecoins for its $40 billion remittance inflows, reducing transaction costs by one percentage point. Bilal bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), highlighted this as part of a broader push to integrate virtual assets into the economy for cross-border payments and digital exports. This move could significantly enhance Pakistan's foreign exchange position and potentially strengthen the Pakistani Rupee, impacting local gold prices.

بحوالہ / Source: www.brecorder.com