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Pakistanis Own $20 Billion in Cryptocurrencies, Report Reveals

Reports suggest that Pakistanis are holding about $20 billion (roughly Rs 3.6 trillion in PKR) as of 2021.

Pakistan Global Crypto Adoption Index
Image: Unsplash

Even though Pakistan has not given any official statements about cryptocurrency regulations, reports suggest that Pakistanis are holding about $20 billion (roughly Rs 3.6 trillion in PKR) as of 2021.

According to reports, Pakistan has climbed to third place in Global Crypto Adoption Index, while India and Vietnam are on second and first respectively.

However these figures are merely an estimate. Actual numbers may be even higher than reported here. Most of the buyers use P2P (peer to peer) transactions, which are not recorded and remain undetected.

FPCCI president Nasir Hayar Magoon suggested that government should facilitate crypto transactions, as India and Dubai are doing. Many believe this is one area where Pakistan can generate more income, and can help the country in terms of economic growth.

by Talha Shaikhani