Binance in Pakistan: A Digital Asset Collaboration 🇵🇰 🤝
Pakistan Government today has signed a Memorandum of Understanding (MoU) with Binance to explore the "tokenisation" of up to $2 billion in government assets (sovereign bonds, T-bills, and commodity reserves) to boost liquidity and attract investors.
* Tokenisation creates a digital, blockchain-based version of a real-world asset.
* The agreement allows Binance to potentially provide technical expertise and advisory support.
* Finance Minister called it a "very strong message" and emphasized the commitment to "execution".
Separately, Pakistan's Virtual Assets Regulatory Authority #PVARA gave initial clearance for Binance and HTX to:
* Register with regulators.
* Set up local subsidiaries.
* Prepare for full exchange licence applications.
This move is part of Pakistan's broader plan to speed up its digital-finance overhaul, which includes establishing the PVARA, creating the Pakistan Crypto Council (PCC), and drafting a formal licensing regime for virtual assets. A central bank digital currency (CBDC) pilot is also planned for 2025.
#Binance founder Changpeng Zhao #CZ hailed the agreement as a "great signal for the global blockchain industry and for Pakistan."
