Pakistan selects Japan's Soramitsu as its CBDC pilot partner.

The Japanese blockchain company Soramitsu is collaborating with the State Bank of Pakistan (SBP) to test the central bank digital currency (CBDC) before the end of 2025. The project, funded by the Ministry of Economy, Trade and Industry of Japan, aims to address the issue of cash dependence and expand financial access in Pakistan. Soramitsu has previously co-developed Bakong – the first CBDC in Southeast Asia from Cambodia – and is now introducing offline transaction capabilities via mobile phones, supporting areas with poor internet connectivity.

The SBP has stated that it is finalizing the legal framework for virtual assets while preparing to pilot the CBDC. The government has also established the Pakistan Electronic Money Council to promote the adoption of digital assets and the mining of bitcoin using surplus energy. Although not yet licensed, the SBP asserts that digital assets are not banned and will await official regulations before widespread implementation.