❌ 2) Retail gets baited too early
If this turns into “Pakistani public adoption” before controlled pilots, you’ll get:
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influencers
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fake wallets
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“investment opportunities”
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and a national PR disaster.
❌ 3) Reputation risk and compliance backlash
Pakistan cannot afford another narrative of weak controls.
Big Tech thrives on “trust.” Pakistan cannot run “trust me bro” economics.
The Correct Way To Do This (Non-Negotiables)
If Pakistan is serious, it must publish and enforce these:
1) Define the scope publicly
What corridor? What volume? What timeline? What controls?
2) Reserve proof requirements
Audits, custodians, redemption policy — no mystery.
3) SBP enforcement power
The central bank must have authority to pause, review, and sanction.
4) AML/KYC compliance that’s real
Not symbolic. Not selective. Real.
5) Institutional pilot first, retail last
No mass rollout. No public hype. No “get rich” narrative.
Only controlled settlement experiments.
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