As dollar shortages persist in Pakistan’s open market, demand for digital dollar alternatives has accelerated, pushing many users towards crypto rails even as formal regulation remains a work in progress. While the Pakistan Virtual Assets Regulatory Authority (PVARA) continues deliberations on detailed rules, market activity has surged outside the regulatory perimeter, often facilitated by illegal […]
stablecoins
Ripple raises $500 million at $40 billion valuation
SAN FRANCISCO – Crypto firm Ripple has raised $500 million in a new funding round led by Fortress Investment Group and Citadel Securities, valuing the company at $40 billion, the firm announced on Wednesday. The strategic investment follows Ripple’s $1 billion tender offer earlier this year at the same valuation. The company said the fresh […]
Govt sets up Pakistan digital assets authority to oversee crypto & web3
ISLAMABAD: Pakistan has decided to create a Digital Assets Regulatory Authority to manage and supervise digital financial markets such as cryptocurrencies, DeFi (decentralized finance) platforms, stablecoins, and tokenized assets, all under a unified legal framework. The Ministry of Finance announced that the new body, called the Pakistan Digital Assets Authority (PDAA), will aim to bring […]