Pakistan has formally begun integrating digital assets into its global economy by signing a memorandum of understanding with Binance to explore tokenization of government-owned assets valued at around $2 billion. Binance and HTX have received preliminary regulatory approvals as part of efforts to connect the country’s financial system with blockchain technology, enhancing transparency and expanding investment opportunities. According to the Ministry of Finance, the government will evaluate tokenizing sovereign bonds, treasury bills, and commodities such as oil, gas, and metals, enabling real-world assets to take digital form on blockchain networks, improving market access and performance. Finance Minister Muhammad Aurangzeb described the agreement as a significant milestone in Pakistan’s reform agenda, attracting global investment into national debt and commodity markets. Binance founder Changpeng Zhao also called it a major advancement for Pakistan and the blockchain sector. Meanwhile, the newly established Virtual Asset Regulatory Authority (PVARA) issued no-objection certificates to Binance and HTX, allowing them to register within financial monitoring systems and prepare for local operations; these are initial permissions rather than full operating licenses. The rapid growth of cryptocurrency in Pakistan is also marked by the creation of the Pakistan Crypto Council, development of licensing and tax frameworks, and plans for a central bank digital currency pilot project in 2025. Additionally, agreements have been made with the US-based World Liberty Financial to research stablecoins and tokenized financial rails. State Minister for Digital Assets Bilal Bin Saqib emphasized that Bitcoin and blockchain form the foundation of Pakistan’s future financial system, addressing challenges of the country’s growing youth population and limited access to financial services. He highlighted Bitcoin as more than speculative investment, serving as financial security and accessible means for millions of Pakistanis. These initiatives are seen as the start of a new financial era for Pakistan, moving beyond traditional models to play an effective role in the global digital economy.
Source: bitcoinmagazine
