Pakistan is fast becoming the region’s most aggressive adopter of fintech and digital assets, even as India continues to dominate South Asia’s broader digital finance landscape, according to Forbes.
Pakistan’s rapid regulatory reforms, revived venture capital inflows, and early moves into digital assets are pushing it ahead of its neighbors.
Pakistan’s fintech funding has sharply rebounded. Investments doubled to US$26.3 million in 2024 and reached US$52.5 million in the first half of 2025. Pakistan’s 450 fintech firms have now raised a total of US$391 million.
The standout deal of 2025 so far is the US$52 million pre-Series A round secured by Haball, a B2B supply chain and payments platform. The transaction is notable because Meezan Bank contributed US$47 million. Haball is Pakistan’s first fintech to hold a digital invoicing licence from the Federal Board of Revenue and is working to become a regulated payment initiation service provider connected to Raast.
Regulatory backing is also strengthening the sector. The Pakistan Startup Fund is offering equity-free grants to attract venture capital, while the State Bank of Pakistan has rolled out a licensing framework for digital banks.
Overall, all such initiatives aim to push adult financial inclusion from 64 percent in 2023 to 75 percent by 2028.
Pakistan is also distinguishing itself in digital assets. Unlike Bangladesh and Nepal, which have banned cryptocurrencies, Pakistan has avoided prohibition and is now drafting a virtual asset framework. The country recently secured representation in global crypto governance after Bilal Bin Saqib joined the World Economic Forum’s steering committee on digital asset regulations. The finance ministry said his appointment strengthens Pakistan’s role in shaping international policy on blockchain and cryptocurrency oversight.
Investor interest is rising as well. Venture capital firm Andreessen Horowitz recently led a US$12.9 million round for Pakistan’s ZAR, a startup developing a dollar-backed stablecoin designed for mass-market use through retail shops, phone kiosks, and remittance agents.
Pakistan also ranks No. 3 globally in crypto adoption in Chainalysis’s 2025 index, behind India and the United States. Whether this momentum will withstand the country’s first major crypto shock remains the key test for Pakistan’s long-term commitment to digital finance.