#Pakistan News

Pakistan: Ripple (XRP) Partners with Major Islamic Commercial Bank

September 9, 2019 by Aisshwarya Tiwari at Altcoins

According to a Crowdfund Insider report published on September 8, 2019, major Pakistani bank, Faysal Bank Limited (FBL) has partnered with fintech firm, Ripple Inc. to launch a blockchain-powered digital payments solution. Enabling a Blockchain Economy One of Pakistan’s largest commercial banks, FBL has more than 220 retail branches across...

Pakistani Government Set to Introduce Regulations for Cryptocurrencies

April 1, 2019 by Aisshwarya Tiwari at Altcoins, Bitcoin, News, Regulation

Pakistan is set to introduce regulations for digital currencies as part of its action plan pertaining to the Financial Action Task Force (FATF), reports local media outlet The Express Tribune, April 1, 2019. Government to Issue Licenses to Crypto Exchanges In a bid to mitigate the use of cryptocurrencies to...

Finance Minister Debunks Bitcoin Legalization Claims in Pakistan

March 21, 2019 by Osato Avan-Nomayo at Adoption, Bitcoin, News, Regulation

Asad Umar, the Pakistani Finance Minister, has debunked claims that the country is moving forward with plans to legalize bitcoin trading, reports TechJuice. Despite not recognizing cryptocurrency trading, the country has in recent times begun to adopt blockchain technology solutions. Bitcoin Legalization Not in the Works According to TechJuice, Finance...

Pakistan Embraces Blockchain Technology; International Remittance Service Launched

January 10, 2019 by Aisshwarya Tiwari at Blockchain, Business, Finance, News

According to a press release published on January 8, 2019, Pakistan’s telecommunications company Telenor, in association with Valyou, has successfully launched a blockchain-enabled cross-border remittance service. Notably, the service is powered by distributed ledger technology (DLT) developed by Alipay. Rapid and Secure International Remittance Service for Pakistanis in Malaysia On...

India and Pakistan Crackdown on Cryptocurrencies

April 10, 2018 by Cindy Huynh at Altcoins, Bitcoin, Finance, News, Regulation

The Reserve Bank of India (RBI) recently banned banks from working with individuals or businesses dealing with digital currencies. On April 6, 2018, the State Bank of Pakistan (SBP) followed in same footsteps. The SBP mentioned in a separate statement that cryptocurrencies were no longer legal in Pakistan. According to...

Pakistan’s First FinTech Center: Bitcoin and Blockchain Boost

March 1, 2017 by Joseph Young at Bitcoin, Finance, News, Tech

Pakistan launched its first FinTech Center in February, which will focus on the development of payment-related financial technologies and growth of early stage startups looking into emerging markets such as bitcoin, the blockchain and peer-to-peer (P2P) payments. At the two-day Startup Lahore conference, Information Technology University (ITU) vice chancellor Umar...