Status : Research
Usecase : Retail
The State Bank of Pakistan has been actively researching and exploring the concept of issuing a Central Bank Digital Currency (CBDC) since April 2019. They have expressed their interest in promoting financial inclusion and reducing inefficiency and corruption through the use of a digital currency. The National Payment Systems Strategy was launched in November 2019 to further support this initiative. Pakistan is closely studying CBDCs and looking to countries like China for inspiration. In April 2022, a central bank official hinted at an upcoming announcement regarding CBDC development, which was made in December 2022. The central bank aims to launch the CBDC by 2025. The sources for this information include the State Bank of Pakistan, Atlantic Council Research, and coingeek.com.
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