Senior leaders from Pakistan’s banking, fintech and digital assets sectors met in Karachi on 13 March 2026 at a Visa‑hosted roundtable to examine how stablecoins could be applied safely and effectively in the local market. Participants discussed collaboration between regulators, banks and industry to explore practical pilot programs and policy frameworks that preserve financial stability while expanding digital payment options.
Stablecoins are digital tokens typically pegged to fiat currencies that aim to keep value stable and enable programmable money. The group considered specific use cases for stablecoins Pakistan, including modernising settlement infrastructure and improving the speed and predictability of cross‑border flows. Visa highlighted that it has processed more than US$3.5 billion in annualised stablecoin settlement volume globally and has expanded stablecoin settlement support since launching pilots in 2023.
Delegates pointed to a regulated, USD‑linked stablecoin as a potential tool to reduce friction in Pakistan’s sizeable remittance market, speed up B2B settlement cycles, and provide merchants with more transparent, auditable payment rails that integrate into the formal economy. The conversation emphasised how programmable features could enable new financial services while keeping oversight and auditability intact.
Throughout the discussion, participants repeatedly stressed the importance of a transparent regulatory approach and robust risk management. Consumer protection, anti‑money laundering safeguards and clear governance for pilot programmes were identified as prerequisites for any wider adoption. Attendees agreed that pilots should be well governed and closely coordinated with regulators to test benefits and monitor risks.
Umar Khan, Country Manager for Pakistan & Afghanistan at Visa, said, ‘Around the world, we see benefits that stablecoin offers in its ability to move value with speed, transparency and programmability when built within the right regulatory guardrails. For Pakistan, the opportunity lies in modernising how money moves, particularly for remittances and cross‑border commerce. Visa’s role is to bring proven global infrastructure, work closely with banks and regulators, and help ensure any adoption strengthens trust and financial integrity.’
Visa representatives reiterated the company’s intention to support an ecosystem where innovation and trust advance together, offering technical experience from global pilots and settlement integrations. The roundtable reflected growing interest among Pakistani stakeholders to explore controlled, practical deployments that could boost financial inclusion and improve everyday payment efficiency.
Visa is a global leader in digital payments, facilitating transactions among consumers, merchants, financial institutions and governments across more than 200 countries and territories. The company said it will continue working with Pakistani banks, fintech firms and regulators to evaluate pilot opportunities and help shape frameworks that protect consumers while enabling new payment capabilities.
