Pakistan Taps Japan’s Soramitsu for CBDC Pilot

Tokyo-based blockchain developer Soramitsu is spearheading Pakistan’s push into digital currencies, collaborating with the State Bank of Pakistan (SBP) to pilot a central bank digital currency (CBDC) before the end of 2025. Leveraging its proven track record in Asia, including the development of Cambodia’s Bakong digital currency, Soramitsu’s involvement underscores the growing emphasis on digital assets to modernize financial systems in emerging markets. Soramitsu Drives CBDC Rollout in Asian Countries Soramitsu, a leading Japanese blockchain technology firm, has partnered with the State Bank of Pakistan to launch a pilot program for a digital Pakistani rupee. Supported by funding from Japan’s Ministry of Economy, Trade, and Industry under the Global South Future-Oriented Co-Creation Project, this initiative aims to address pressing financial challenges in Pakistan’s largely cash-dependent economy, Nikkei reported source: https://beincrypto.com/pakistan-taps-japans-soramitsu-for-cbdc-pilot/