Pakistan has signed a MoU with crypto exchange Binance. The agreement explores the “tokenisation” of up to US$2 billion in sovereign bonds, treasury bills and commodity reserves.
This move is part of efforts to boost liquidity and draw investor interest, the finance ministry said.
The agreement could see government‑owned real‑world assets, such as oil, gas, metals and other raw materials, converted into digital tokens on blockchain platforms.
This process is aimed at improving transparency and opening markets to foreign investors.
Separately, the Pakistan Virtual Assets Regulatory Authority (PVARA) said it had granted initial regulatory clearance to both Binance and digital‑asset platform HTX.
They can now register with regulators, set up local subsidiaries, and begin preparations for full exchange licence applications.
The MoU establishes a framework for potential collaboration between the government and Binance to study how tokenisation might work within Pakistan’s legal and financial system, though it does not commit either side to a binding project, Reuters reported.
The initiative is part of a broader push by Islamabad to overhaul its digital finance landscape. This includes establishing a virtual‑asset authority and forming a Pakistan Crypto Council to draft formal licensing rules.
Plans are also underway for a central bank digital currency pilot and new virtual‑asset legislation.
Finance Minister Muhammad Aurangzeb described the MoU as signalling Pakistan’s reform trajectory and “a long‑term partnership.”
Binance founder Changpeng Zhao said the agreement was “a great signal for the global blockchain industry and for Pakistan,” adding that it marked the beginning of a move toward full deployment of the tokenisation initiative.
The regulatory clearances for Binance and HTX allow them to begin engagement under Pakistan’s phased licensing regime.
This regime is designed to ensure governance, anti‑money‑laundering, and compliance standards are met before full licences are issued.
Featured image credit: Edited by Fintech News Middle East, based on image by natanaelginting via Freepik
