Could Pakistan become the next unexpected powerhouse in crypto?
Pakistan’s bold move toward a digital-asset future
This week, Pakistani policymakers took several decisive steps in the digital-asset space. After years of cautious rhetoric, the Ministry of Finance signed an MoU with Binance that could pave the way for up to $2B in tokenized government bonds, treasury bills, and commodity reserves on blockchain. At the same time, Pakistan is building a proper regulatory framework with a new Virtual Asset Regulatory Authority, a licensing regime, and has even allocated 2,000 MW of surplus electricity to support Bitcoin mining and AI data centers. This is a rare mix of macro strategy and technological ambition.
More importantly, officials have been clear that this is not about fueling speculation. The approach is phased and risk-aware, aiming to bring nearly 40 million domestic users into a compliant environment. Plans for a CBDC, a Virtual Assets Act in 2025, and a national stablecoin pilot signal a long-term intention to weave blockchain into the country’s financial infrastructure. Pakistan’s rapid rise to #3 in the 2025 Global Crypto Adoption Index is no coincidence.
From a trading and investment perspective, I’m closely watching how tokenization of sovereign debt and other assets could unlock new on-chain liquidity and opportunities for early participants. Execution will be key — governance, transparency, and investor protection will determine whether tokenized bonds trade at a premium. For now, these moves highlight Pakistan’s growing willingness to embrace digital innovation, and the market narrative around this transformation is only just beginning.
