Stablecoins Could Open New Payment Channels for Pakistan’s Freelancers
Digital dollar-backed currencies may reduce cross-border payment costs and delays, but experts say clear regulations and consumer safeguards remain essential.
Stablecoins could provide Pakistan’s freelancers with alternative channels for receiving international payments.
Stablecoins could offer Pakistani freelancers alternative ways to receive international payments, manage foreign currency earnings and reduce transaction costs. Experts say these digital currencies may also help address settlement delays and dependence on conventional payment gateways and commercial banks.
A 2026 global survey found that stablecoins accounted for an average of 35% of annual earnings among freelancers, gig workers and marketplace sellers who received cryptocurrency payments.
The growing use of stablecoins is changing how independent professionals receive, hold and transfer their earnings. This trend could create new opportunities for Pakistan’s expanding freelance workforce as the country develops its regulated digital asset market, said Gracy Chen, CEO of Bitget.
Unlike cryptocurrencies such as Bitcoin and Ethereum, stablecoins aim to maintain a consistent value. Many are backed by traditional currencies, including the US dollar. This feature makes them suitable for payments, trading, cross-border transfers and decentralised finance.
Stablecoins Could Ease Cross-Border Payments
Chen said Pakistani freelancers could use dollar-backed digital currencies to receive international payments and manage foreign earnings, where legally permitted.
However, she identified regulatory uncertainty, limited banking integration, taxation and consumer protection as major challenges.
“Pakistan’s freelancers should have more options when it comes to receiving payments from international clients. Stablecoins could help reduce some of the costs and delays involved in cross-border payments. But clear regulations and proper safeguards are important if these options are going to work for freelancers,” Chen said.
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She also pointed to Pakistan’s large, tech-savvy youth population. According to Chen, young people are exploring digital platforms and investment opportunities to diversify and grow their savings.
Digital Finance Expands Access to Global Markets
Chen said the shift towards digital finance is also changing how people access global financial markets.
Bitget’s Universal Exchange (UEX) model combines cryptocurrencies, tokenised equities, commodities, foreign exchange products and AI-assisted trading tools on one platform for eligible users.
“People increasingly want access to different markets without having to move between several platforms,” Chen said.
“That’s what we are building with Bitget’s Universal Exchange. For freelancers, the first priority is getting paid efficiently, while broader access to financial markets gives them more options for managing their money.”
Global Survey Highlights Stablecoin Adoption
A survey conducted by Payoneer in partnership with Ascend2 in September 2026 also highlighted growing interest in stablecoins among businesses involved in cross-border payments.
The survey covered 265 senior payments, treasury and finance executives at US-based marketplaces, platforms and enterprises. Each participating business reported annual revenue of at least $100 million.
All respondents held senior-manager positions or higher. They had also used, piloted, evaluated or previously explored stablecoins.
Around 70% of respondents managed supplier and vendor payments. Meanwhile, two-thirds handled payroll and 62% received customer payments.
Furthermore, 57% paid contractors, freelancers, sellers or creators. Another 52% managed collections and receivables.
However, the survey covered businesses already engaged with stablecoins. Therefore, its findings do not represent the wider business market.
Pakistan’s Freelancers Face Payment Challenges
Dr Noman Said, a freelancing coach, said limited banking and payment options could reduce Pakistani freelancers’ earnings by 25% to 30%. He warned that these losses also affect the national economy.
He urged the government to explore different channels, including banks, payment gateways and fintech companies, to facilitate formal inflows from freelance work.
He also called on the banking regulator and relevant ministries to adopt innovative approaches to developing payment solutions for freelancers.
Pakistan has an estimated three million full-time and part-time freelancers. They earned a record $1.7 billion in foreign exchange during FY26, making a significant contribution to the country’s external receipts.
Their earnings reached $549 million in the first quarter of FY27. Annual receipts could reach $2.5 billion by the end of the current financial year, according to the figures provided.
Regulation Remains Critical for Digital Payments
Experts believe regulated digital payment channels could help freelancers receive money more efficiently. Stablecoins may offer another option, provided the law permits their use and appropriate safeguards are in place.
Meanwhile, the Pakistan Virtual Assets Regulatory Authority (PVARA) is working to regulate digital asset exchanges.
The authority has reportedly received nearly 70 applications from international companies seeking legal status to offer digital currency trading in Pakistan.
As the country develops its digital asset framework, clear rules and stronger financial safeguards will remain essential. These measures could help freelancers explore new payment options while protecting consumers and supporting formal foreign exchange inflows.
