Usamatrix

Cryptocurrency use in Pakistan has soared. Recent analysis finds roughly 15–20 million Pakistanis now own crypto, putting Pakistan among the top 10 countries worldwide for crypto adoption. Peer-to-peer trading volume has exploded – rising from about $120M in Jan 2019 to $520M by Dec 2023 (a 36% CAGR). In fact, 2023 saw roughly $25 billion in annual crypto trading volume on Pakistan-based wallets. These figures underscore that ordinary Pakistanis are embracing crypto as a tool to preserve wealth and connect globally amid economic challenges.
For freelancers and remitters, crypto is already a game-changer. Globally, 61% of freelancers own crypto, and in Pakistan specifically 63% of freelancers now accept crypto payments. This means Pakistani gig workers can seamlessly tap international clients without costly bank transfers. Similarly, Pakistani expatriates sent about $31.2 billion home in 2022, and roughly 3% of that (~$936M) was sent via crypto channels. By using stablecoins, these families avoided hefty fees – saving an estimated $186 million in remittance costs last year – and funds arrived in minutes rather than days.
Key Benefits Emerging:
Financial inclusion & global access:
Mobile wallets and P2P platforms let unbanked and youth users join the financial system. With ~78% smartphone penetration and vibrant peer networks, even remote Pakistanis can now hold USD-pegged stablecoins and engage in global commerce.
Lower fees & faster payments:
Crypto transfers incur network fees around 0.5–1% versus ~7% on traditional remittances. This slashes costs for families and businesses, making it far cheaper to receive overseas income or pay for imports.
Hedge against inflation:
Faced with high inflation and a declining rupee, many Pakistanis use stablecoins or Bitcoin to protect savings. During the 2022–2023 PKR slide, crypto trading spiked as citizens sought a stable store of value.
Empowering youth & entrepreneurs:
Over 60% of Pakistan’s 240M people are under age 30. By accepting crypto, young freelancers and startups can bid globally and get paid instantly. This opens new earning opportunities and connects local talent to the world market.
These encouraging trends show crypto is delivering real world impact in Pakistan: fostering financial inclusion, giving freelancers and SMEs access to global markets, cutting remittance costs, and offering an inflation hedge. Pakistani regulators and innovators are building on this momentum, aiming for clear rules and better banking integration. The story is optimistic crypto is grassroots growth is already helping Pakistanis take control of their finances and leap into the digital economy.
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