TechFlow, November 8 — According to Cointelegraph, Faisal Mazhar, Deputy Head of Payments at the State Bank of Pakistan, said that with assistance from the World Bank and the International Monetary Fund (IMF), a central bank digital currency (CBDC) prototype is under development and plans to undergo a pilot phase before full-scale rollout. Additionally, Zafar Masud, President of the Pakistan Banks' Association (PBA), revealed that the country is seriously considering issuing a stablecoin backed by the Pakistani rupee and will push for improved regulation of digital assets, as delays in regulating digital assets could result in missing out on up to $25 billion in economic development opportunities.
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