Pakistan’s record-breaking IT and freelance export earnings are highlighting the growing role of stablecoins in cross-border payments, as new research from Payoneer shows global marketplaces and digital platforms are rapidly integrating stablecoins into their core financial infrastructure. According to Payoneer’s report Stablecoin Steps Up, unveiled at Money20/20 in Las Vegas, stablecoins have moved beyond pilot projects, with 69% of surveyed marketplaces, platforms and enterprises already using them in live operations and 41% deploying them at meaningful scale.
The study, based on responses from 265 senior finance, treasury and payments executives at US-based companies generating annual revenues of over $100 million, found that faster settlement remains the primary benefit, cited by 50% of respondents. Respondents also cited improved access to markets and currencies (41%) and a better recipient experience (40%) as key advantages.
The report noted that stablecoin adoption often begins with users seeking to hold US dollar-denominated balances, a trend particularly relevant for Pakistan’s estimated three million freelancers. It added that challenges remain, including regulatory compliance, system integration, and converting digital dollars into local currency.
The findings come as Pakistan advances its own digital asset framework under the Virtual Assets Act 2026, which established the Pakistan Virtual Assets Regulatory Authority (PVARA). The regulator estimates that reducing remittance transfer costs by just one percentage point on the country’s annual remittance flows could save approximately $400 million each year.
“Our research shows how marketplaces and enterprises are putting stablecoin to work to improve cross-border payments, manage treasury operations and build new financial experiences for their customers,” said Rowland Berry, Vice President Stablecoin at Payoneer.
Pakistan’s technology sector continues to grow strongly. According to State Bank of Pakistan data, freelancers earned a record $197 million in September 2026, taking first-quarter FY27 earnings to around $550 million, representing a 46% year-on-year increase.
Industry observers believe growing acceptance of stablecoins by international payment platforms could eventually give Pakistani freelancers, exporters, and digital businesses faster, more cost-effective access to global markets, provided regulatory and operational frameworks continue to evolve.
