Japan’s Soramitsu Teams Up with Pakistan to Launch CBDC Pilot

Pakistan is set to test a central bank digital currency (CBDC) by 2025, partnering with Tokyo-based blockchain firm Soramitsu. The initiative aims to modernize payments and enhance financial inclusion in a country where cash remains dominant, particularly in rural areas.

Soramitsu, known for developing Cambodia’s Bakong digital currency, will leverage its expertise to assist Pakistan’s 250 million-strong population and $400 billion economy. The project targets reducing cash dependency, which currently drives high transaction costs and limits access to banking services.

Funding comes from Japan’s Ministry of Economy, Trade, and Industry under its Global South Future-Oriented Co-Creation Project. Offline transaction capabilities are planned to address connectivity gaps, enabling smartphone payments without continuous internet access.