Moiz Jangda

founder and CEO of Pocket Money

Compiled from 1 recorded interview. Every statement below is drawn from the passage cited beside it.

Moiz Jangda is the founder and CEO of Pocket Money, which he has described as what PayPal could be in Pakistan for emerging markets, starting with Pakistan. He has described Pocket as a dollar hub where users hold, cash out, spend and send dollars.

Career

Jangda has referred to a problem he set out to solve 10 years ago. He has said raising money to build a fintech app for Pakistan is not easy. [1]

Pocket Money

Jangda has said Pocket Money is a team of six. He has said it is a US domiciled entity and holds dollars in the United States. He has said Pocket currently holds dollar balances in bank accounts, and that these balances will move to segregated wallets per user once approval is received. He has said Pocket has submitted a sandbox application. [1]

Jangda has said the Pocket card is a US dollar denominated Visa card, and he has confirmed it is a debit card. He has said the card charges no FX fee when spent in Pakistan, and that card spending in Pakistan is priced at the mid-market rate or the SBP daily rate. He has said the card spends in US dollars when used online. [1]

Jangda has said the standard option gives users the State Bank rate at parity, and that Pocket charges 1% for instant access to PKR. He has said instant cash-out works because Pocket keeps pre-funded liquidity at the bank. He has said ACH or wire deposits into US accounts take two to three days to settle, and that Pocket charges a 1% fee for instant access to incoming deposits. [1]

Jangda has said Pocket has already sold a significant amount of dollars to its bank partner, and that banks were glad to partner with Pocket because they see it as a way to bring dollars in. He has said Pocket has an agreement with its bank partner on inward remittances and explicit approval from its US bank partner to provide named accounts. He has said Pocket gives customers a named virtual US account rather than an FDIC-insured depository account. [1]

Jangda has said sending dollars by ACH or wire to a bank account is on the near-term roadmap and not yet live. He has said Pocket offers peer-to-peer transfers between users. He has said a PayPal payment into a Pocket account works today but takes about three days, and that money is received as a single dollar balance. [1]

Jangda has said freelancers are a perfect market for Pocket to focus on right now, and that Pocket's current focus is people who receive dollars inward regularly. He has said Pocket is primarily focused on Pakistan for now and that Pakistan will be the focus as an emerging market for the foreseeable future. He has said Pocket is launching in Canada, the US and Australia within two or three weeks. He has said Pocket is unlikely to focus only on Pakistan over a ten-year period, and that cracking Pakistan properly will take time, which the company is willing to spend. He has said competitors made the mistake of attempting to tackle too many countries at once. [1]

Identity checks and compliance

Jangda has said any applicant named Muhammad or Abdul Rehman who tried to onboard to Pocket was immediately put into manual review. He has said that in Pocket's experience, a customer named Muhammad was flagged as a sanctions risk 100% of the time until recently. He has said he spent probably 96 hours fighting systemic discrimination over the most common name in the world. He has said Pocket spent time dispositioning 63 false positives, and that Pocket has employees in Pakistan who open pages and check them for the company. He has said Pocket has AML reporting obligations and must show it has done due diligence. [1]

Operations and plans

Jangda has said trust is the number one thing Pocket needs to gain from customers. He has said Pocket's customer support runs on WhatsApp, with all six team members answering inquiries. He has said Pocket has a risk engine to start underwriting and taking risks alongside customers, and that it needs about six months of transaction history across a broad range of customers. He has said a launch event is coming up in Karachi, Pakistan, and that he would be in Pakistan for about a month. [1]

Views

Jangda has said Payoneer seems to be the largest incumbent in Pakistan, and that Wise and Remitly are good at getting money to people in Pakistan in PKR. He has said he has yet to see a widespread solution that people trust for getting actual dollars. He has said money transfer should be peer-to-peer, and that a lot of people move dollars back and forth every day. [1]

Jangda has said stablecoins are effectively dollars and will appear that way in Pocket. He has said stablecoins are a late solution to correspondent banking and Swift. He has said users should not have to care which blockchain USDC is on. [1]

Jangda has said people struggle to access various AI tools and things as simple as Figma and Notion, and that people should not be unable to access the tools and utilities they need to be productive. He has said starting to open up access to global services is the right way to find the balance. He has argued that money will move anyway, so regulated channels should open up. He has said his vision is for sending, receiving and spending money to be the most boring thing people do each day. [1]

Appearances

DateTitleWhere
2026-04-23 Remittance apps deliver rupees. Pocket Money is betting Pakistanis want the dollars. Thought Behind Things

Frequently asked questions

Who is Moiz Jangda?

Moiz Jangda is the founder and CEO of Pocket Money. He has described Pocket Money as what PayPal could be in Pakistan for emerging markets, starting with Pakistan.[1]

What does Moiz Jangda do?

Moiz Jangda is the founder and CEO of Pocket Money. He has described Pocket as a dollar hub where users hold, cash out, spend and send dollars.[1]

What company did Moiz Jangda found?

Moiz Jangda is the founder and CEO of Pocket Money. He has said Pocket Money is a team of six and a US domiciled entity that holds dollars in the United States.[1]

What is Pocket Money?

Moiz Jangda has described Pocket as a dollar hub where users hold, cash out, spend and send dollars. He has said the Pocket card is a US dollar denominated Visa card and that it is a debit card. He has said Pocket Money is a US domiciled entity and holds dollars in the United States.[1]

Does the Pocket Money card charge foreign exchange fees in Pakistan?

Moiz Jangda has said the Pocket card charges no FX fee when spent in Pakistan. He has said card spending in Pakistan is priced at the mid-market rate or the SBP daily rate.[1]

What does Pocket Money charge for instant access to money?

Moiz Jangda has said Pocket charges 1% for instant access to PKR, and a 1% fee for instant access to incoming deposits. He has said instant cash-out works because Pocket keeps pre-funded liquidity at the bank.[1]

Which countries is Pocket Money focused on?

Moiz Jangda has said Pocket is primarily focused on Pakistan for now. He has said Pocket is launching in Canada, the US and Australia within two or three weeks, and that Pakistan will be the focus as an emerging market for the foreseeable future.[1]

What does Moiz Jangda think about stablecoins?

Moiz Jangda has said stablecoins are effectively dollars and will appear that way in Pocket. He has said stablecoins are a late solution to correspondent banking and Swift. He has said users should not have to care which blockchain USDC is on.[1]

References

  1. Remittance apps deliver rupees. Pocket Money is betting Pakistanis want the dollars. . Thought Behind Things , 2026-04-23.
Show the source passages (62 statements)
  1. Moiz Jangda is the founder and CEO of Pocket Money. I sit down with Moiz Jangda, Founder and CEO of Pocket Money.
  2. He has described Pocket Money as what PayPal could be in Pakistan for emerging markets, starting with Pakistan. Pocket Money is effectively what PayPal could be in Pakistan for emerging markets, starting with Pakistan, right?
  3. He has said Pocket Money is a team of six. we're a small team. It's six of us, right?
  4. He has said Pocket Money is a US domiciled entity and holds dollars in the United States. So we are a US domiciled entity. Your dollars are held in the United States.
  5. He has described Pocket as a dollar hub where users hold, cash out, spend and send dollars. So it's basically like Pocket is your dollar hub, right? You hold your dollars, you can cash them out, you can spend them, you can send them.
  6. He has said Pocket currently holds dollar balances in bank accounts. So our dollars are currently being held in bank accounts.
  7. He has said dollar balances will move to segregated wallets per user once approval is received. Once we get approval from Pavara, we'll actually move our dollar balances to segregated wallets per user.
  8. He has said Pocket has submitted a sandbox application. we have submitted a sandbox application for Pavara
  9. He has said the Pocket card is a US dollar denominated Visa card. It's a Visa card, Visa signature card, uh US dollar denominated.
  10. He has confirmed the Pocket card is a debit card. It is a debit card. Yes.
  11. He has said the card charges no FX fee when spent in Pakistan. if you spend that card in Pakistan, you're not going to get charged an FX fee.
  12. He has said card spending in Pakistan is priced at the mid-market rate or the SBP daily rate. It is mid-market or it it's SBP's daily rate is what you would be getting.
  13. He has said the standard option gives users the State Bank rate at parity. In the standard scenario, um we are giving you exactly the State Bank rate at parity, right?
  14. He has said Pocket charges 1% for instant access to PKR. we'll charge 1% for the convenience of accessing your PKR instantly.
  15. He has said instant cash-out works because Pocket keeps pre-funded liquidity at the bank. we do it instantly because we have pre-funded liquidity sitting at the bank.
  16. He has said Pocket has already sold a significant amount of dollars to its bank partner. we've already sold a significant amount of dollars to the bank
  17. He has said banks were glad to partner with Pocket because they see it as a way to bring dollars in. banks were thrilled to work with us because they're looking at us as a means uh to bring dollars in
  18. He has said ACH or wire deposits into US accounts take two to three days to settle. if you're receiving money via ACH or wire in the US, it's two to three days settlement time
  19. He has said Pocket charges a 1% fee for instant access to incoming deposits. if you want to access your money instantly, you pay a 1% fee
  20. He has said Payoneer seems to be the largest incumbent in Pakistan. at least in Pakistan, Payoneer seems to be the largest incumbent
  21. He has said freelancers are a perfect market for Pocket to focus on right now. I think that freelancers are a perfect market for us to focus on right now
  22. He has said Pocket's current focus is people who receive dollars inward regularly. starting with a concrete use case for people that have dollars coming inward regularly is our current focus
  23. He has said Wise and Remitly are good at getting money to people in Pakistan in PKR. Wise and Remitly are fantastic at getting people in Pakistan, PKR, right?
  24. He has said he has yet to see a widespread solution that people trust for getting actual dollars. I have yet to see, uh, I guess a widespread solution that people trust to access actual dollars
  25. He has said money transfer should be peer-to-peer. money transfer should just be peer-to-peer, right?
  26. He has said a lot of people move dollars back and forth every day. a lot of people are moving dollars back and forth every day
  27. He has referred to a problem he set out to solve 10 years ago. did I really solve the problem I set out to solve 10 years ago?
  28. He has said Pocket has an agreement with its bank partner on inward remittances. our bank partner, we have the agreement of inward remittances with them
  29. He has said Pocket has explicit approval from its US bank partner to provide named accounts. we've got an explicit approval from our US bank partner to provide named accounts for our customers
  30. He has said Pocket gives customers a named virtual US account rather than an FDIC-insured depository account. They have a named virtual US account. So, the the slight difference there is that we are not providing FDIC-insured depository accounts
  31. He has said sending dollars by ACH or wire to a bank account is on the near-term roadmap and not yet live. So at this very moment, as per what's live today, no, but um in our very near uh near-term uh feature roadmap, you being like someone in Pakistan being able to send via ACH or wire to your bank account, absolutely
  32. He has said Pocket offers peer-to-peer transfers between users. if you were to be a Pocket user, we have P2P as well.
  33. He has said stablecoins are effectively dollars and will appear that way in Pocket. stablecoins are effectively dollars and that's how they will be in Pocket.
  34. He has said stablecoins are a late solution to correspondent banking and Swift. stablecoins are uh honestly a very late solution to the problem of correspondent banking or Swift
  35. He has said users should not have to care which blockchain USDC is on. You should not have to care about like look, USDC on Solana versus Ethereum versus I don't know, pick your blockchain of choice.
  36. He has said money is received as a single dollar balance. and you receive the money as a singular dollar balance, right?
  37. He has said a PayPal payment into a Pocket account works today but takes about three days. the PayPal user can pay Pocket today because the Pocket user has a named virtual account, they give uh the PayPal user that, money sends, but that takes three days, right?
  38. He has said the card spends in US dollars when used online. when you go online to type your card details in, you are spending in US dollars.
  39. He has said Pocket is primarily focused on Pakistan for now. So at the moment, we're primarily focused on Pakistan.
  40. He has said Pocket is launching in Canada, the US and Australia within two or three weeks. we are launching Pocket in Canada, in the US, in Australia um over the next two or three weeks
  41. He has said competitors made the mistake of attempting to tackle too many countries at once. I think generally those competitors have made the mistake of attempting to tackle too many countries at once.
  42. He has said Pakistan will be the focus as an emerging market for the foreseeable future. So uh Pakistan will be our focus in terms of an emerging market for the foreseeable future.
  43. He has said Pocket is unlikely to focus only on Pakistan over a ten-year period. Will we continue to solely focus on Pakistan over a 10-year period? That's likely not the case, right?
  44. He has said cracking Pakistan properly will take time, and the company is willing to spend that time. to crack Pakistan correctly will absolutely take time, and that's something we're willing to spend the time on.
  45. He has said his vision is for sending, receiving and spending money to be the most boring thing people do each day. the ultimate overall vision is that sending, receiving, spending money should be the most boring thing you do every day.
  46. He has said raising money to build a fintech app for Pakistan is not easy. raising money to build a fintech app for Pakistan is not easy, right?
  47. He has said he spent probably 96 hours fighting systemic discrimination over the most common name in the world. I have spent the last probably 96 hours, uh, fighting like this systemic discrimination of the most common name in the world
  48. He has said any applicant named Muhammad or Abdul Rehman who tried to onboard to Pocket was immediately put into manual review. Any Muhammad or Abdul Rehman that has attempted to onboard to Pocket, uh, was immediately getting put into manual review
  49. He has said Pocket spent time dispositioning 63 false positives. after spending time dispositioning 63 false positives
  50. He has said Pocket has employees in Pakistan who open pages and check them for it. So, we've got employees in Pakistan opening these pages for us and checking for us.
  51. He has said Pocket has AML reporting obligations and must show it has done due diligence. we have AML reporting regulations. Um, so we have to at least show that we've done our due diligence.
  52. He has said that in Pocket's experience, a customer named Muhammad was flagged as a sanctions risk 100% of the time until recently. the likelihood that that Muhammad will get flagged as uh like a a terrorist or somebody on a on a sanctions list is like as of up until yesterday in our experience, 100%.
  53. He has said trust is the number one thing Pocket needs to gain from customers. trust is the number one the number one thing we need to gain from our customers
  54. He has said Pocket's customer support runs on WhatsApp, with all six team members answering inquiries. We have a WhatsApp uh customer support number and all six of us are on WhatsApp all day long answering inquiries.
  55. He has said a launch event is coming up in Karachi, Pakistan. We've got a launch event uh coming up in Pakistan. So, Where is that happening? Uh, at Nastep, yeah, in Karachi.
  56. He has said he would be in Pakistan for about a month. I'll also be in Pakistan uh starting in 10 days for about a month.
  57. He has said Pocket has a risk engine to start underwriting and taking risks alongside customers. We have a risk engine behind the scenes uh to start underwriting and taking these risks alongside customers.
  58. He has said Pocket needs about six months of transaction history across a broad range of customers. all we need is probably six months of transaction history, not even for that customer, but a broad range
  59. He has said people should not be unable to access the tools and utilities they need to be productive. our people should not be uh like unable to access these tools, utilities to be productive.
  60. He has said starting to open up access to global services is the right way to find the balance. absolutely the right way to do it, I would say, in order to balance uh in order to find the right balance to sort of start opening up access to global services
  61. He has argued that money will move anyway, so regulated channels should open up. if this money is going to move anyway, regardless, why not start opening up like, you know, I guess regulated genuine channels to do so.
  62. He has said people struggle to access various AI tools and things as simple as Figma and Notion. people struggle to access uh various AI tools. They struggle to access things as simple as like say Figma, Notion