Pakistan Signs Strategic Agreement: Plans to Tokenize $2 Billion in Sovereign Bonds and Other Assets

According to Reuters on December 12, Pakistan's Ministry of Finance signed a memorandum of understanding with Binance, a leading global cryptocurrency exchange, to explore the tokenization of up to $2 billion in government assets, including government bonds, treasury bills, and commodity reserves such as oil, natural gas, and metals.

This collaboration aims to enhance asset liquidity, transparency, and attractiveness in international capital markets. Binance may provide technical expertise and consulting support to help Pakistan assess compliant blockchain infrastructure.

On the same day, the Pakistan Virtual Assets Regulatory Authority (PVARA) issued "No Objection Certificates" to Binance and HTX (formerly Huobi), allowing these exchanges to conduct market promotion and customer communication under clear regulatory supervision.

Additionally, these exchanges are required to register on Pakistan's anti-money laundering platform and cooperate with local securities regulators to establish regulated local subsidiaries, laying the groundwork for applying for full virtual asset service provider licenses.

Notably, Pakistan ranks third globally in retail crypto participation, with tens of millions of users and a large, active crypto market. Its annual transaction volume is estimated to exceed $300 billion.

In this market landscape, the country's efforts to establish a formal regulatory framework can effectively curb illegal trading and provide positive guidance for responsible blockchain financial innovation.

In summary, the Pakistani government’s initiatives to explore on-chain sovereign assets and collaborate with top global exchanges demonstrate its strategic intent to balance financial regulation and innovation. These actions not only attract global capital but also promote the modernization of the domestic financial system.

#巴基斯坦 #Asset Tokenization