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access vs friction

Economy & Markets

Why Pakistan Has 20 Million Crypto Users but Fewer Than 500,000 Stock Market Investors


The UI Problem Nobody in PSX Talks About

There is another uncomfortable truth:

PSX has no consumer-grade trading interface.

  • No unified exchange app

  • Fragmented broker apps

  • Poor UX

  • Slow execution perception

  • No real-time investor education

Crypto exchanges spent billions optimizing friction away.

PSX participants largely outsourced this to brokers — and stopped there.


Why This Matters for the Market (Not Just Participation)

Low participation causes:

  1. Shallow liquidity

  2. Higher volatility

  3. Retail panic selling

  4. Price manipulation narratives

  5. Limited domestic capital depth

It also explains why:

READ:   Why Interest Rates Matter More Than PSX Earnings

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