Crypto Becomes High-Tech Alternative to Informal Money Transfers in Pakistan
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Stablecoins like Tether are being used as a high-tech replacement for hawala/hundi to transfer money across borders informally.
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IT professionals and exporters are opting to be paid in stablecoins like USDT instead of dollars to avoid challenges of formal remittance channels.
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Pakistan's adoption of crypto is high; peer-to-peer trading indicates funds being moved informally.
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Remittances have moved from banking to crypto channels as adoption rises despite falling forex reserves.
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With more cash in circulation and people moving abroad, crypto provides an easier way of transferring wealth outside formal channels.