PANews reported on November 8th that, according to Pakistani local media DailyTimes, Zafar Masud, Chairman of the Pakistan Bankers Association (PBA), revealed that the country is seriously considering issuing a stablecoin backed by the Pakistani rupee. He warned that delays in digital asset regulation could result in the loss of up to $25 billion in economic development opportunities. Separately, Faisal Mazhar, Deputy Director of the Payments Department at the State Bank of Pakistan, stated that a prototype of a central bank digital currency (CBDC) is under development with assistance from the World Bank and the International Monetary Fund (IMF), and a pilot phase is planned before full rollout.