Pakistan’s record earnings from information technology and services exports are drawing attention to the growing role of stablecoins in cross-border payments, as global marketplaces and businesses increasingly integrate digital dollar-based payments into their financial operations.
New research by Payoneer, a global financial technology company focused on cross-border business payments, indicates that stablecoins are moving beyond experimental projects to become part of mainstream financial infrastructure. The report, titled Stablecoin Steps Up, was unveiled at Money20/20 in Las Vegas.
Payoneer Research Finds Stablecoin Adoption Expanding
The report surveyed 265 senior payments, treasury and finance leaders at US-based marketplaces, platforms and enterprises with annual revenues of at least $100 million.
According to the findings, 69% of respondents said their organisations were already using stablecoins in live operations, while 41% reported adoption at meaningful scale.
Faster settlement was identified as the leading proven benefit, cited by 50% of respondents. Better access to markets and currencies followed at 41%, while 40% highlighted an improved recipient experience.
The findings suggest that businesses are increasingly exploring stablecoins not only to accelerate payments but also to improve the efficiency of international financial transactions.
Stablecoins Move Beyond Cross-Border Payments
The research indicates that stablecoin adoption is expanding beyond the transfer of funds into broader financial services.
One-third of surveyed organisations already offer stablecoin capabilities to their own customers, while half plan to introduce them within three years. Overall, 82% expect stablecoins to become part of their financial infrastructure over the same period.
Payoneer noted that adoption often begins when a payment recipient wants to hold a dollar-denominated balance rather than immediately convert funds into local currency. This demand could be relevant for Pakistan’s estimated three million freelancers, many of whom work with international clients and platforms.
However, the report also highlights practical challenges, including the “last mile” of converting digital dollars into spendable local currency. Regulatory requirements, transaction reconciliation and integration with existing financial systems remain additional obstacles to wider adoption.
Pakistan’s Freelance Earnings Reach Record $197 Million
The findings come as Pakistan’s freelance and digital services sector records strong earnings. According to State Bank of Pakistan data cited in the announcement, Pakistani freelancers earned a record $197 million in September 2026.
This lifted earnings for the first quarter of fiscal year 2027 to approximately $550 million, representing a 46% increase year-on-year.
The growth highlights the expanding importance of international digital services and the payment systems that connect Pakistani professionals with overseas clients.
For freelancers and technology exporters, efficient cross-border payment infrastructure can influence settlement times, transaction costs and access to foreign currency earnings.
Pakistan Develops Regulatory Framework for Virtual Assets
Pakistan is also developing its regulatory framework for virtual assets. The Virtual Assets Act 2026 established the Pakistan Virtual Assets Regulatory Authority (PVARA) to license and supervise the sector.
The regulatory development comes as policymakers examine ways to improve the efficiency of international transfers and reduce the cost of sending money into the country.
According to the regulator’s estimate cited in the announcement, reducing transfer costs by one percentage point on approximately $40 billion in annual remittances could save Pakistan around $400 million each year.
The potential role of stablecoins in the country’s financial system will depend on regulatory compliance, secure transaction arrangements and the availability of reliable channels for converting digital assets into local currency.
Payoneer Highlights Integration and Recipient Access
Rowland Berry, Payoneer’s Vice President for Stablecoin, said the company’s research showed that marketplaces and enterprises were using stablecoins to improve cross-border payments, manage treasury operations and develop new financial services for customers.
He said the success of stablecoin adoption would depend on integrating the technology into existing systems, meeting regulatory requirements and ensuring recipients could access and use the funds they receive.
For Pakistan, the combination of rising freelance earnings, expanding digital services exports and evolving virtual-asset regulation puts payment infrastructure in focus. While stablecoins may offer potential benefits in settlement speed and access to dollar-denominated balances, practical adoption will depend on compliance, integration and convenient conversion into usable local currency.