Former Binance CEO Changpeng Zhao believes Pakistan is on track to become one of the world’s leading crypto hubs within the next five years. Over the past year, Pakistan has taken several concrete steps to formalize its crypto ecosystem. The country established the Pakistan Virtual Assets Regulatory Authority, opening the door for major exchanges like Binance and HTX to operate locally. Additionally, it has begun work on a national Bitcoin reserve.
Authorities are also exploring real-world asset tokenization as a way to attract foreign capital and improve liquidity in local markets. Zhao was particularly optimistic about Pakistan’s plans to tokenize parts of its financial markets. He argued that tokenization could allow global investors to gain direct exposure to Pakistani stocks and assets, effectively channeling international investment into the local economy. These moves come despite Pakistan starting the year without a comprehensive legal framework for crypto, even as it ranked among the top countries globally for adoption in 2025.
Pakistan has already signed a memorandum of understanding with Binance to explore tokenizing billions of dollars’ worth of government securities and commodity reserves. Zhao highlighted blockchain as a major opportunity for individuals and small businesses. He noted that traditional banking and artificial intelligence startups often require heavy capital, infrastructure, and data, making them difficult for young founders to enter. Zhao described crypto as one of the most open environments for innovation, stressing that education and ecosystem support will be essential.
While optimistic, Zhao noted that long-term success will depend on more than regulation alone. He pointed to the need for stronger university programs and training initiatives to help turn Pakistan’s crypto momentum into sustainable economic growth. If these elements come together and the current pace is sustained, Zhao believes Pakistan could emerge as a major global player in crypto by 2030.
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