Stablecoins could provide Pakistani freelancers with a new way to receive international payments, hold dollar-denominated earnings and reduce transaction costs as the country’s digital financial sector continues to develop. Financial experts believe regulated stablecoin payment channels could help address longstanding difficulties faced by freelancers who rely on conventional banking services and international payment gateways.
According to a report published by The Express Tribune on November 14, 2026, limited banking and payment options are affecting the earnings of Pakistani freelancers, with some professionals potentially losing 25 to 30 per cent of their income because of transaction costs and payment-related challenges.
What Are Stablecoins and How Do They Work?
Stablecoins are digital currencies designed to maintain a relatively stable value by being linked to traditional currencies, particularly the US dollar.
Unlike cryptocurrencies such as Bitcoin and Ethereum, whose prices can fluctuate significantly, stablecoins are designed to minimise price volatility. This makes them potentially useful for international payments, financial transfers, trading and digital transactions.
For Pakistani freelancers working with clients in the United States, Europe and other international markets, stablecoins could offer an alternative way to receive payments without relying entirely on traditional banking channels.
However, their practical use in Pakistan will depend on regulatory approval, banking integration, taxation arrangements and appropriate consumer protection measures.
Limited Payment Options Affect Freelancers’ Earnings
Dr Noman Said, a freelancing coach, said Pakistan’s freelancers face limited banking and payment channels that could reduce their earnings by 25 to 30 per cent.
He stressed that the government should explore different options, including commercial banks, international payment gateways and financial technology companies, to make it easier for freelancers to bring their foreign earnings into Pakistan through formal channels.
He also called on the banking regulator and relevant government ministries to adopt innovative approaches to developing alternative payment solutions.
The issue is particularly important for Pakistan, where millions of individuals provide services to international clients through digital platforms and independent working arrangements.
Pakistan’s Freelance Industry Generates Billions in Foreign Exchange
Pakistan is estimated to have nearly three million full-time and part-time freelancers, making the sector an increasingly important contributor to the country’s foreign exchange earnings.
According to figures cited in The Express Tribune report, Pakistani freelancers generated a record $1.7 billion in foreign exchange during the fiscal year 2025-26.
Their earnings reached another $549 million during the first quarter of fiscal year 2026-27.
Based on the reported figures, annual freelance earnings could reach approximately $2.5 billion by the end of the current financial year.
Expanding access to efficient international payment services could therefore help freelancers retain more of their earnings while strengthening Pakistan’s formal foreign exchange inflows.
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Global Businesses Increasingly Explore Stablecoin Payments
The growing interest in stablecoins is not limited to individual freelancers. Businesses involved in international payments are also exploring their use for payroll, supplier payments and receiving money from customers.
A September 2026 survey conducted by Payoneer in partnership with Ascend2 examined stablecoin adoption among 265 senior payments, treasury and finance executives at US-based marketplaces, platforms and companies with annual revenues of at least $100 million.
The survey found that approximately 70 per cent of respondents managed supplier and vendor payments, while around two-thirds handled payroll transactions.
Furthermore, 62 per cent received customer payments, 57 per cent paid contractors, freelancers, sellers or creators, and 52 per cent managed collections and receivables.
However, the survey specifically covered businesses that had already used, tested, evaluated or explored stablecoins. Its findings should not be interpreted as representing the wider business community.
A separate 2026 global survey found that stablecoins accounted for an average of 35 per cent of annual earnings among freelancers, gig workers and marketplace sellers who received cryptocurrency payments.
Despite the potential benefits, experts believe regulatory clarity will be essential before stablecoins can become a widely accessible payment option for Pakistani freelancers.
Issues surrounding legal permission, taxation, financial security, banking integration and consumer protection need to be addressed to ensure that digital payment channels operate within a properly regulated framework.
The Pakistan Virtual Assets Regulatory Authority (PVARA) is currently working to establish a regulated environment for digital asset exchanges.
According to The Express Tribune, the authority has received nearly 70 applications from international companies seeking permission to operate legally in Pakistan and offer digital currency trading services.
The development reflects growing international interest in Pakistan’s digital asset market, although receiving applications does not mean that all companies have been approved to operate.
The expansion of regulated digital payment services could provide Pakistani freelancers with additional options for receiving international income and managing their foreign currency earnings.
For a country with millions of people working in the global digital economy, reducing payment delays and transaction costs could have significant economic benefits.
However, the success of stablecoin-based payment solutions will depend on effective regulation, reliable financial infrastructure and secure mechanisms for converting digital currency into local money.
As Pakistan works towards formalising its digital asset industry, stablecoins could become an additional payment option for freelancers, provided their use is supported by clear laws and adequate financial safeguards.
Source: The Express Tribune, reporting by Usman Hanif, published November 14, 2026.
