Lex advises a global stablecoin payments platform on PVARA EOI and swap architecture
Lex Legal Practice advises a global stablecoin payments platform on its Expression of Interest (EOI) submission to the Pakistan Virtual Asset Regulatory Authority (PVARA) for authorisation under the Virtual Assets Ordinance 2025.
The engagement involved structuring a fiat-to-crypto, crypto-to-fiat, and crypto-to-crypto swap mechanism designed to enable seamless on-ramp and off-ramp conversions between stablecoins and local currency, a capability at the heart of any stablecoin payments proposition for the Pakistani market.
The firm advised on the regulatory characterisation of each conversion leg, the positioning of the swap architecture within the categories of Virtual Asset Services contemplated by the Ordinance, and the presentation of the proposition to the authority at the EOI stage.