Pakistan Seeks US Backing for Stablecoin Push and Reserve Boost

Pakistan's government has requested a $10 billion Bilateral Exchange Stabilization Support Facility from the U.S. to boost its digital financing efforts and strengthen national reserves.

The request is part of Pakistan's ongoing strategy for digital assets, which includes partnering with World Liberty Financial to explore the feasibility of a stablecoin backed by the US dollar and other blockchain applications.

This move highlights Pakistan's growing interest in cryptocurrencies, as Chainalysis lists the country among the top countries globally regarding grassroots cryptocurrency utilization.