Pakistan Asks US for $10B Reserve Aid, Names CZ Crypto Adviser

The council partnered with World Liberty Financial earlier this year to study a dollar-backed stablecoin and other blockchain applications. The partnership aims to upgrade international payments and broaden access to digital financial services, the ministry said.

Chainalysis ranks Pakistan among the top countries for grassroots crypto adoption. The firm cites high retail participation and demand for cheaper remittances.

ORF said the crypto push is part of Pakistan's wider economic diplomacy with Washington. The think tank described the collaboration as 'a bridge' in Islamabad's wider interactions with the US. The $10 billion proposal and the stablecoin partnership form a dual-track strategy, ORF wrote.

The IMF has welcomed stablecoin innovation while warning on risks. The Fund said emerging markets draw investment from non-bank financial institutions. Those flows create new funding channels. They also expose economies to faster capital swings.

The Bank for International Settlements argues privately issued stablecoins cannot match the trust or settlement finality of regulated bank deposits or central bank digital currencies without strong oversight.

Washington has not decided on the $10 billion facility. The Pakistan Crypto Council, chaired by Aurangzeb, is tasked with regulating and integrating blockchain and digital assets, according to ORF.