Pakistan has announced that it is set to make digital assets the foundation of its new national financial system. The development was revealed by Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib. Bin Saqib mentioned that Pakistan considers Bitcoin and digital assets to be crucial aspects that will play important roles in its new financial system.
This perspective highlights the potential for Pakistani officials to consider regulating the crypto market. This development was mentioned at the Bitcoin MENA Conference. It is also coming a few days after Saqib shared a statement declaring that the country can no longer rely on outdated economic models. Therefore, “a new engine”, which he referred to as digital assets, is needed to boost economic growth.
Pakistan fingers digital assets as important aspects of its financial system
During the discussion in Abu Dhabi, the senior Pakistan official argued that they do not see Bitcoin, digital assets, and blockchain as speculative tools, but as an important part of their infrastructure. Bin Saqib further explained that they are not just distractions but play a significant role in establishing the basis for a new financial system for developing nations.
Bin Saqib, who is also the Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) and serves as Special Assistant to the Prime Minister on Blockchain and crypto matters, highlighted that he is working towards a major goal of transforming the largest unregulated cryptocurrency markets into a favourable investment environment.
According to him, Pakistan has the potential to develop a regulated crypto ecosystem as soon as possible, given that 70% of the population belongs to the 30-year-old age group, rather than becoming a late adopter. “My message is straightforward,” he stated. “If El Salvador can achieve this with 6 million people, just think about what Pakistan could accomplish with a population 40 times larger and one of the fastest-growing digital sectors in Asia.”
Following the senior official’s argument, analysts weighed in on the situation. They pointed out that Pakistan is increasingly becoming one of the fastest-growing cryptocurrency markets globally. Their remarks came after the country moved up six spots to solidify its top position as the third in Chainalysis’ 2025 Global Crypto Adoption Index. Bin Saqib also informed reporters that the country is preparing to establish a strategic Bitcoin reserve.
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