Pakistan’s crypto landscape has taken center stage once again as experts estimate that nationals have collectively invested between $20 billion and $30 billion in asset-backed crypto instruments. These insights came during the Sustainable Development Policy Institute (SDPI) Conference, where economists, regulators, and fintech professionals discussed the growing yet unregulated crypto activity in the country.

Despite the staggering scale, these figures remain unofficial since Pakistan has no legal framework to monitor or document digital asset investments. Experts warned that without timely regulation, the country risks missing out on economic opportunities worth up to $25 billion. The discussion emphasized that the issue is not about whether crypto should be adopted, but how Pakistan can responsibly regulate it to safeguard investors and integrate with the evolving global financial system.

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Crypto Growth Amid Regulatory Ambiguity

According to conference participants, the true volume of Pakistan’s crypto investments remains uncertain, with projections suggesting that trading activity by Pakistanis could eventually touch $300 billion, nearly matching the nation’s GDP of around $400 billion. The absence of regulation has left much of this activity outside formal oversight, increasing the risk of fraud, cybersecurity breaches, and mismanagement.

Experts from both local and international institutions proposed a phased approach to legalization, starting with the introduction of a Central Bank Digital Currency (CBDC). Such a move, they argued, could reduce remittance costs while bringing transparency to digital financial flows.

Zafar Masud, President of the Pakistan Banks Association (PBA), highlighted that Pakistan could capture $20–25 billion in crypto-related opportunities through early adoption. He also revealed that authorities are considering a rupee-backed stablecoin, which could serve as a stepping stone toward a fully digital currency system. Masud described CBDCs as a natural transition “away from printed currency” toward digital inclusion, though he cautioned that “cybersecurity and public perception remain serious challenges”.

Faisal Mazhar, Deputy Director of Payments at the State Bank of Pakistan, confirmed that the central bank has been developing a CBDC prototype since 2022 with support from the World Bank and IMF. The initiative remains in its testing phase, with a pilot expected to follow once key technical issues are addressed.

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A Defining Moment for Pakistan’s Digital Finance Future

While experts agree that Pakistan crypto investment 2025 signals strong public interest and financial potential, they also warn of regulatory delays that could limit the country’s ability to compete globally. Singapore-based analyst Yara Wu emphasized that digital currencies could make remittances more affordable and secure for millions of overseas Pakistanis.

The consensus emerging from the SDPI conference was clear: Pakistan must move swiftly yet cautiously. Strengthening cyber safeguards, addressing misconceptions, and aligning regulatory policies with international standards could unlock new avenues for financial inclusion and innovation.

If approached strategically, Pakistan’s digital asset journey could mark a turning point in its financial modernization efforts, one that connects its people, economy, and technology to the broader global fintech ecosystem. But as experts repeatedly reminded policymakers: delaying regulation could mean missing the very future now within reach.