Tag Archives: Pakistan

Pakistan’s First Blockchain-Based Remittance Service Launched Using Alipay’s Technology

A Pakistani financial institution has rolled out a cross-border remittance service based on blockchain technology developed by Alibaba affiliate, Alipay. Telenor Microfinance Bank and Malaysian fintech firm Valyou have partnered to offer the service to that will operate between Malaysia and Pakistan. The service is expected to enhance the efficiency and speed of remittances from the former to… Read More »

Pakistan Taps Blockchain Developed by $150B Alipay, But Forbids Bitcoin

The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and large… Read More »

Pakistani Bank Teams With Alipay for Blockchain Remittances

Pakistan-based Telenor Microfinance Bank, a subsidiary of Norwegian telecoms multinational Telenor Group, has launched cross-border payments using blockchain technology from payments firm Alipay. Claiming it as Pakistan’s first blockchain-based international remittance service, the bank announced Tuesday that the effort is a joint effort between Telenor Group’s Malaysian fintech subsidiary Valyou and its Pakistani mobile banking arm Easypaisa, offering real-time… Read More »

Economic Change in Pakistan Could Increase Cryptocurrency Usage

As former cricketer-turned-politician Imran Khan prepares to take charge of Pakistan’s economy, some believe Pakistan is on the brink of an economic crisis. This crisis may increase the use of cryptocurrency in Pakistan. Increase in Bitcoin Trading According to Forbes reporting, citing figures from cryptocurrency trading platform LocalBitcoins, Bitcoin trading volumes in Pakistan are beginning to creep up.… Read More »

Cryptocurrency Becoming Popular in Pakistan Due to Mounting Economic Woes

Cryptocurrency is fast becoming a saving grace for Pakistanis due to the mounting economic woes in the country. This is despite the 2018 cryptocurrency ban which caused Urdubit, Pakistan’s premier Bitcoin bourse to shut down its operations. Increase in Cryptocurrency Trading in Pakistan With Pakistan’s near economic crisis, it is becoming apparent that cryptocurrency trading is the way… Read More »

Pakistanis Eyeing Crypto For Survival Amid Collapsing Economy, may be moving Venezuela’s Way

While Pakistan may be celebrating the formation of new government most likely to be headed by Imran Khan, the problem of crumbling economy is still unsolved. While every Pakistani would wish the celebrations of politics turns to their economy as well, a lot of Pakistanis are moving towards cryptos to sustain themselves from rising inflation and falling Pakistani… Read More »