Pakistan Signs MoU With Binance for $2 Billion Asset Tokenization

Pakistan has signed a memorandum of understanding (MoU) with Binance to explore the tokenization of up to $2 billion in sovereign bonds, treasury bills, and commodity reserves. This initiative aims to enhance liquidity and attract foreign investment.

Key Points

The collaboration focuses on blockchain-based distribution of real-world assets held by Pakistan, including bonds, treasury bills, and commodities like oil and metals.
Pakistan's finance ministry, led by Muhammad Aurangzeb, aims to improve liquidity and access to international markets.
Final approval for the $2 billion asset tokenization is pending.
Binance founder Changpeng Zhao expressed optimism about this agreement as a positive signal for the global blockchain industry.

PVARA and Regulatory Developments

Pakistan has granted initial clearance for Binance and HTX to register with local regulators, allowing them to prepare applications for full exchange licenses.
The Pakistan Virtual Assets Regulatory Authority (PVARA) provided these clearances based on governance and compliance assessments.
This move is part of Pakistan's broader digital finance overhaul, including the formation of the Pakistan Crypto Council and plans for a central bank digital currency (CBDC).

According to Bilal bin Saqib, Pakistan ranks as the world's third-largest cryptocurrency market by retail activity. The government is also drafting a comprehensive Virtual Assets Act.

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