Forex operations pertain to the buying and selling of foreign currencies on the global foreign exchange market. These transactions are conducted by banks, corporations, governments, and individual traders to facilitate international trade, investment, and speculation. The market operates 24 hours a day, five days a week, determining exchange rates for various currency pairs. Efficient forex operations are crucial for global economic activity.
Context
While traditionally distinct, forex operations are increasingly intersecting with the digital asset space, particularly concerning stablecoins and cross-border payments. News often reports on how blockchain technology might disrupt traditional forex mechanisms by offering faster and cheaper settlement. A key discussion involves the potential for central bank digital currencies to streamline international currency exchanges and reduce reliance on conventional correspondent banking networks.
Pakistan's move to license virtual asset trading mandates immediate framework development for financial institutions, redefining market access and operational compliance.
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