Bridging the Financial Gap: Factors Influencing Cryptocurrency Adoption in Pakistan
Abstract/Description
PURPOSE: This study aims to explore the key factors influencing the adoption of cryptocurrency trading in Pakistan, focusing on behavioral intentions shaped by awareness, effort expectancy, perceived enjoyment, social influence, financial literacy, and perceived risk.
STUDY DESIGN: Using the Unified Theory of Acceptance and Use of Technology (UTAUT) as the theoretical framework, a structured questionnaire was distributed online to 506 respondents. Data was analyzed using structural equation modeling to test the proposed hypotheses.
FINDINGS: All hypotheses were found to be significant. Perceived enjoyment emerged as the strongest predictor of behavioral intention, followed by awareness, effort expectancy, social influence, financial literacy, and perceived risk. Interestingly, perceived risk positively influenced adoption, suggesting that informed users are willing to manage risks for potential benefits.
ORIGINALITY/VALUE: This study fills a critical gap by providing empirical evidence on cryptocurrency adoption in Pakistan, an emerging market with limited prior research, and extends the application of UTAUT in a novel context.
RESEARCH LIMITATIONS: The study is limited to young adult users, which may restrict the generalizability of the findings across different age groups and socio-economic segments.
PRACTICAL IMPLICATIONS: Findings offer valuable insights for policymakers, regulators, and crypto platforms to enhance user adoption through targeted education, user-friendly platforms, and trust-building measures.
SOCIAL IMPLICATIONS: Promoting crypto adoption responsibly can drive financial inclusion, support digital literacy, and integrate unbanked populations into the digital economy, contributing to broader socio-economic development.
Keywords
Cryptocurrency Adoption, Blockchain Technology, Pakistan Digital Economy, Financial Inclusion, Behavioral Intention
Track
Finance
Session Number/Theme
Finance - Session I
Start Date/Time
13-6-2025 2:15 PM
End Date/Time
6-2025 3:55 PM
Location
MCS – 3 AMAN CED Building
Recommended Citation
Shehzadi, Y. (2025). Bridging the Financial Gap: Factors Influencing Cryptocurrency Adoption in Pakistan. IBA SBS 4th International Conference 2025. Retrieved from https://ir.iba.edu.pk/sbsic/2025/program/3
COinS
Bridging the Financial Gap: Factors Influencing Cryptocurrency Adoption in Pakistan
MCS – 3 AMAN CED Building
PURPOSE: This study aims to explore the key factors influencing the adoption of cryptocurrency trading in Pakistan, focusing on behavioral intentions shaped by awareness, effort expectancy, perceived enjoyment, social influence, financial literacy, and perceived risk.
STUDY DESIGN: Using the Unified Theory of Acceptance and Use of Technology (UTAUT) as the theoretical framework, a structured questionnaire was distributed online to 506 respondents. Data was analyzed using structural equation modeling to test the proposed hypotheses.
FINDINGS: All hypotheses were found to be significant. Perceived enjoyment emerged as the strongest predictor of behavioral intention, followed by awareness, effort expectancy, social influence, financial literacy, and perceived risk. Interestingly, perceived risk positively influenced adoption, suggesting that informed users are willing to manage risks for potential benefits.
ORIGINALITY/VALUE: This study fills a critical gap by providing empirical evidence on cryptocurrency adoption in Pakistan, an emerging market with limited prior research, and extends the application of UTAUT in a novel context.
RESEARCH LIMITATIONS: The study is limited to young adult users, which may restrict the generalizability of the findings across different age groups and socio-economic segments.
PRACTICAL IMPLICATIONS: Findings offer valuable insights for policymakers, regulators, and crypto platforms to enhance user adoption through targeted education, user-friendly platforms, and trust-building measures.
SOCIAL IMPLICATIONS: Promoting crypto adoption responsibly can drive financial inclusion, support digital literacy, and integrate unbanked populations into the digital economy, contributing to broader socio-economic development.
