Pakistan’s fast growing interest in cryptocurrencies, paired with early moves on regulation, could put the country on the global crypto map by the end of the decade.
That was the view shared by Changpeng Zhao, the former chief executive of Binance, during a recent conversation with Bilal bin Saqib, the head of the Pakistan Crypto Council. Speaking to Cointelegraph, Mr Zhao pointed to the speed at which Pakistan has begun to shape rules for digital assets, something he said many larger economies have struggled to do.
“I’m impressed to see a country of this size executing a clear vision with such speed,” he said. “If this pace continues, Pakistan could be one of the world’s leading crypto nations within five years.”
Regulation gathers pace
Over the past year, Pakistan has taken several steps to bring its largely informal crypto market into the mainstream. Authorities have set up the Pakistan Virtual Assets Regulatory Authority, a body designed to oversee the sector and provide legal clarity to investors and companies.
The country has also issued licences to major international exchanges, including Binance and HTX, allowing them to operate within a regulated framework. Officials say the aim is to reduce risk for users while encouraging innovation in a sector that already attracts millions of Pakistanis.
The government has also signalled interest in holding Bitcoin as part of its reserves and is exploring ways to use blockchain technology to tokenise real world assets. Supporters of the plan argue this could help attract foreign capital and improve liquidity in local markets.
Opening markets to the world
Mr Zhao said one of the most ambitious ideas under discussion is the tokenisation of Pakistan’s stock market. The concept would allow shares to be represented as digital tokens, making them easier to trade across borders.
“Which country wouldn’t want the global population to invest directly in their stocks?” he said. “Tokenisation allows people worldwide to buy stock tokens, effectively bringing international investment directly into Pakistan’s market.”
Supporters believe such a move could widen access to Pakistan’s capital markets, especially for overseas investors who currently face legal and technical hurdles.
Opportunities for startups
Beyond large scale reforms, Mr Zhao highlighted what blockchain technology could mean for small businesses and individual entrepreneurs. He argued that crypto based projects are often easier and cheaper to launch than traditional financial or technology firms.
“Starting a bank or building an AI company requires massive resources, from data to computing power,” he said. “Blockchain, on the other hand, offers far lower barriers to entry and tremendous opportunities for innovation.”
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