Pakistan Will Test the Digital Rupee in Coming Months

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The Central Bank of Pakistan recently declared their intention to legalize digital currency transactions by 2025, and concurrently announced the launch of a central bank digital currency (CBDC).

Governor Jameel Ahmad has revealed that trials of a rupee-pegged token will start up soon.

Knowing that other countries are also engaging in the development of a CBDC, the Bank of Pakistan intends to use the same approach as India, experimenting with two distinct versions of their digital currency.

It’s been suggested that establishing a CBDC will work as an alternative to decentralized cryptocurrencies as well as reduce the reliance of Pakistani and Indian economies on the American dollar.