Pakistan is set to roll out its first central bank digital currency (CBDC) later this year, using advanced Japanese blockchain technology.
In partnership with Japan’s award-winning blockchain firm Soramitsu, the State Bank plans to launch a digital rupee aimed at transforming money use for 250 million citizens. The Japan-funded project has drawn attention for its potential to drive a cashless future.
State Bank Governor Jameel Ahmad said the initiative will strengthen Pakistan’s capacity for the digital era, while experts note it could cut cash distribution costs, especially in rural areas.
With a track record of successful projects in Asia and the Pacific, Soramitsu is taking on its biggest challenge yet in Pakistan. The Tokyo-based developer is building a system that works even without internet, potentially positioning Pakistan as a global example for digital finance in regions with poor connectivity.
For digital currency, President Zardari Approves Virtual Assets Act to Regulate Crypto
