Pakistan, June 19 -- As the world embraces technology, the financial systems are changing rapidly-and one of the most prominent developments is the emergence of stablecoins. Stablecoin is backed by a stable asset which is most often pegged to the US dollar, the euro, or even the gold ensuring that it does not fluctuate. This stability helps it to withstand market fluctuations better than other coins. Such stability is crucial for developing countries like Pakistan, especially in fuelling cross-border transactions, and remittances, and protecting their savings against high inflation rates.

Interest in digital currencies has grown in Pakistan in recent years, particularly among young and tech-savvy people. Over 64% of the population is und...