Pakistan has signed a memorandum of understanding with crypto exchange Binance to explore tokenising up to US$2 billion in sovereign bonds, treasury bills, and government commodity reserves to boost liquidity and attract investors. Separately, Pakistan gave initial clearance for Binance and HTX, a digital-asset platform, to register with regulators, set up local subsidiaries, and begin preparations for full exchange licence applications, the Pakistan Virtual Assets Regulatory Authority said. The MoU aims to enable tokenisation and blockchain-based distribution of Pakistan’s real-world assets.
These assets can include sovereign bonds, treasury bills, and government commodity reserves such as oil, gas, metals, or other raw materials owned by the government. Tokenisation is the process of creating a digital version of an asset.
Finance Minister Muhammad Aurangzeb said the MoU signalled Pakistan’s reform trajectory and a long-term partnership. Binance founder Zhao Changpeng described the agreement as a great signal for the global blockchain industry and for Pakistan, marking the start of full deployment of the tokenisation initiative.
The Pakistan Virtual Assets Regulatory Authority said it had issued early approvals to Binance and HTX after reviewing governance and compliance controls, enabling them to register on the Anti-Money Laundering system, set up local units, and prepare full applications. These approvals mark a step forward for Pakistan’s virtual assets framework.
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