Odaily Planet Daily News The State Bank of Pakistan (the country's central bank, referred to as SBP) disclosed in its 2022 financial stability report that it believes that Ripple and XRP have just started in the global payment ecosystem, but "the future is bright."
The report notes that while cryptoassets offer some benefits, there are still prerequisites for realizing those benefits. Furthermore, while some work is currently being done to support cross-border payments (e.g. via Ripple's XRP), this is still insignificant compared to the global cross-border payment processing volume.
Overall, the bank remains cautious on the crypto industry. The report highlights the inherent risks posed by cryptocurrencies, such as their potential use in money laundering and terrorist financing; it also mentions the Silk Road, FTX, and Terraform Labs debacles on the darknet as an indication of the instability in the crypto industry. (Bitcoinist)