Pakistan Starts National Digital Currency Trial

The State Bank of Pakistan (SBP) confirmed that its central bank digital currency (CBDC) project has entered the trial phase. Officials said the upcoming digital currency will enable transactions without traditional cash or even a bank account, helping expand financial inclusion across the country. The SBP is developing a comprehensive framework to regulate and monitor digital currency. Rules and guidelines will be finalized before the pilot launch to ensure smooth implementation and oversight. The project is being designed to support everyday payments, allowing users to transfer money quickly and securely using mobile phones. The system aims to provide a safe, simple, and paperless alternative to cash-based transactions. Pakistan is not alone in exploring digital currency. Nigeria has already launched a fully operational CBDC, while China, Russia, and the United Arab Emirates are running pilot programs to test their own digital currencies.