Pakistan’s crypto policy is moving deeper into the country’s economic agenda as Islamabad seeks a $10 billion financial support facility from the United States.
The proposed arrangement would reinforce foreign exchange reserves, support the rupee, and complement its expanding digital finance program.
Finance Minister Muhammad Aurangzeb presented the request to US Treasury Secretary Scott Bessent, according to Reuters.
Pakistan is seeking a Bilateral Exchange Stabilization Support Facility lasting up to five years. Funds from the mechanism would strengthen national reserves and reduce reliance on emergency financing during periods of market pressure.
The request comes as Pakistan continues reforms under an International Monetary Fund program and looks for additional external financing. Authorities are pursuing measures intended to improve economic resilience as global funding conditions become less predictable.
Pakistan crypto strategy expands through stablecoins
Pakistan is advancing a digital asset strategy including stablecoins and blockchain-based payment systems. Earlier this year, the country partnered with World Liberty Financial to examine a US dollar-backed stablecoin and other blockchain applications.
The initiative focuses on modernizing cross-border payments, increasing remittance inflows and widening access to digital financial services. These priorities connect Pakistan’s crypto market with efforts to improve payment efficiency and attract financial activity.
Chainalysis ranks Pakistan among the leading countries for grassroots cryptocurrency adoption. Retail participation, remittance activity, and demand for faster, lower-cost transactions have supported wider digital asset use across the country.
The Observer Research Foundation says Islamabad increasingly uses digital asset cooperation within its engagement with Washington. That approach places crypto alongside conventional economic diplomacy rather than treating it only as a financial technology initiative.
Stablecoin plans face global regulatory warnings
The proposed US facility and stablecoin partnership show Pakistan pursuing traditional financial support alongside digital payment development. One track addresses reserve strength and currency stability, while the other focuses on infrastructure supporting remittances and financial inclusion.
The IMF acknowledges that stablecoins can reduce payment costs, improve efficiency, and expand access to financial services. It also warns that emerging markets are receiving more investment from non-bank financial institutions, creating funding opportunities while increasing exposure to rapid changes in global capital flows.
The Bank for International Settlements has raised similar concerns. It recognizes the potential of tokenization and programmable finance but says privately issued stablecoins require strong oversight to provide trust, stability and settlement finality.
Traditional finance and crypto policy converge
The BIS views regulated tokenized bank deposits and central bank money as a durable base for future financial systems. Its position highlights regulatory standards facing countries that want to expand stablecoin use without weakening monetary safeguards.
Washington has not decided whether to approve Pakistan’s requested facility. Pakistan’s policy combines conventional external support, reserve management and digital asset development within a diversified economic framework.
