Bitcoin, blockchain should form Pakistan’s new financial rail, minister says

The remarks signal Pakistan’s push to turn its grassroots crypto activity into a compliant, innovation-driven sector anchored by Bitcoin and digital-asset regulation.

Pakistan sees Bitcoin and digital assets as the backbone of a new financial rail for its 240 million citizens, a senior official said at the Bitcoin MENA Conference, signaling a shift toward formal regulation of crypto markets.

Bilal Bin Saqib said on Tuesday that Pakistan can no longer rely on traditional economic models, but needs “a new engine,” citing digital assets. The minister said during a roundtable in Abu Dhabi:

“We see Bitcoin, digital assets, and blockchain not just as speculation but as infrastructure. Not as noise, but as a foundation of a new financial rail for the global south.”

Saqib, the chairman of Pakistan’s Virtual Asset Regulatory Authority (PVARA) and former special assistant to the prime minister on blockchain and crypto, said his mandate is to transform one of the world’s largest unregulated crypto markets into a compliant, investment-ready ecosystem.Pakistan has emerged as one of the world’s fastest-growing crypto markets, climbing six places to rank third in Chainalysis’ 2025 Global Crypto Adoption Index.

In May, Saqib announced that the country is preparing to establish a strategic Bitcoin (BTC) reserve and is moving toward more pro-crypto regulatory policies.