Pakistan has signed a memorandum of understanding (MoU) with Binance to explore the tokenisation of up to $2 billion in national assets. The initiative aims to digitize real-world and sovereign assets, enhancing liquidity, transparency, and access to international markets.
Scope of Tokenisation
The MoU outlines potential collaboration for tokenising assets such as sovereign bonds, treasury bills, commodity reserves, and other government-owned resources, including oil, gas, and metals. Tokenisation converts physical or financial assets into digital tokens, enabling secure, blockchain-based trading and distribution.
The initiative is subject to regulatory approvals and aims to strengthen Pakistan’s financial ecosystem while providing international investors easier access to local assets.
Government and Binance Perspectives
Finance Minister Muhammad Aurangzeb described the MoU as a signal of Pakistan’s long-term reform agenda and commitment to financial innovation.
Binance CEO Changpeng Zhao called the agreement a landmark development for Pakistan and the global blockchain industry, highlighting its potential for full deployment and execution in the near future.
PVARA Issues NOCs to Binance and HTX
Separately, the Pakistan Virtual Assets Regulatory Authority (PVARA) issued No Objection Certificates (NOCs) to Binance and HTX, allowing them to begin regulated engagement in Pakistan’s digital asset market.
The NOCs permit firms to register with the FMU goAML system, engage with the Securities and Exchange Commission of Pakistan (SECP) for local subsidiary incorporation, submit full VASP licence applications, and provide AML-compliant services.
PVARA Chairman Bilal Bin Saqib stated that the issuance of NOCs marks the beginning of a new chapter for Pakistan’s digital asset ecosystem. He emphasized that the framework focuses on consumer protection, market integrity, and responsible innovation.
Significance for Pakistan’s Crypto Market
With Pakistan ranked third globally in crypto adoption and an estimated 30–40 million users, the country’s annual trading volume is projected to exceed $300 billion. PVARA emphasized that structured regulation ensures transparency, governance, and market integrity while supporting responsible financial innovation.
Finance Minister Aurangzeb added that the NOC framework demonstrates Pakistan’s commitment to fostering digital finance responsibly, signaling a strong message to global investors and local stakeholders.
