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PAKISTAN TO LAUNCH FIRST-EVER DIGITAL RUPEE THIS YEAR
Pakistan is set to take a major step toward digital finance, as the State Bank of Pakistan (SBP) partners with Japanese blockchain technology company Soramitsu to launch a pilot program for a central bank digital currency (CBDC) later this year. The initiative was first reported by Nikkei Asia.
The pilot will run on Soramitsu’s CBDC platform and is being funded by Japan’s Ministry of Economy, Trade and Industry under its Global South Future-Oriented Co-Creation Project. The aim is to explore how a digital version of the Pakistani rupee could improve payment systems, financial inclusion, and overall economic efficiency.
The upcoming pilot is expected to test not only the technical aspects of a digital rupee but also its potential to transform Pakistan’s financial landscape, bringing millions into the formal economy and reducing dependency on cash. If successful, it could pave the way for a full-scale national rollout in the coming years.
