Pakistan has taken a significant step toward integrating blockchain technology into its financial system by signing a memorandum of understanding with global cryptocurrency exchange Binance to explore the tokenisation of up to $2 billion in the country’s assets. The development was confirmed by the Ministry of Finance, which described the agreement as part of a broader effort to modernise financial infrastructure, improve market access, and enhance transparency through emerging technologies.
According to the ministry, the MoU establishes a framework for potential collaboration on the tokenisation and blockchain-based distribution of Pakistan’s real-world and sovereign assets. These assets may include sovereign bonds, treasury bills, and government-owned commodity reserves such as oil, gas, metals, and other raw materials. Tokenisation involves creating a digital representation of an asset on a blockchain, enabling more efficient transfer, fractional ownership, and potentially wider participation from international investors.
Officials said the initiative could involve assets valued at up to $2 billion, subject to regulatory and governmental approvals. The stated objective is to improve liquidity, increase transparency, and expand international market access by leveraging blockchain technology in a controlled and structured manner. The move reflects growing interest within Pakistan’s economic leadership in adopting digital financial tools while maintaining oversight and financial discipline.
Finance Minister Muhammad Aurangzeb described the MoU as a signal of Pakistan’s reform trajectory and a foundation for a long-term partnership. He said the agreement demonstrates the country’s intent to engage constructively with global technology leaders as it works to strengthen financial governance and attract new forms of investment.
Binance founder Changpeng Zhao welcomed the agreement, calling it a positive signal for both Pakistan and the global blockchain industry. He said the MoU marked the beginning of a move toward the full deployment of tokenisation initiatives, indicating confidence in Pakistan’s willingness to explore blockchain-based financial solutions within a regulated framework.
Alongside the MoU, regulatory developments further underscored Pakistan’s evolving approach to digital assets. The Pakistan Virtual Assets Regulatory Authority issued no objection certificates to Binance and HTX, allowing the firms to begin regulated engagement in the country’s digital asset market. PVARA said the NOCs were granted following a formal review process conducted in coordination with public-sector stakeholders, with a focus on governance standards, compliance frameworks, risk management controls, and alignment with emerging regulatory requirements.
The finance minister said the introduction of a structured NOC framework demonstrates Pakistan’s commitment to responsible innovation and financial discipline. Under the framework, the NOCs permit the firms to register on the Financial Monitoring Unit’s goAML system, engage with the Securities and Exchange Commission of Pakistan for local subsidiary incorporation, submit full virtual asset service provider licence applications, and provide AML-registered services after completing goAML registration. Authorities clarified that the issuance of the NOCs does not constitute a full operating licence.
PVARA Chairman Bilal Bin Saqib described the development as the beginning of a new chapter for Pakistan’s digital asset ecosystem. He said the issuance of the NOCs is the first step toward a fully licensed and regulated environment that places consumer protection, financial integrity, and responsible innovation at its core.
Pakistan currently ranks third globally in crypto adoption, with an estimated 30 to 40 million users. Annual digital asset trading activity linked to the country is projected to exceed $300 billion, highlighting both the scale of market participation and the importance of timely regulation. PVARA emphasised that structured oversight is essential to ensure transparency, governance, and market integrity, while also signalling that Pakistan remains open to responsible innovation under clear and enforceable rules.
Together, the MoU with Binance and the issuance of regulatory NOCs reflect Pakistan’s broader effort to position itself within the global digital finance landscape. By combining exploratory blockchain initiatives with phased regulation, authorities aim to balance innovation with stability as the country navigates the next stage of its financial and technological evolution.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.