Crypto deal: Pakistan, Binance sign MoU on tokenising sovereign assets; plan covers up to $2 bn

Pakistan on Friday signed a memorandum of understanding (MoU) with global crypto exchange Binance to explore tokenisation of sovereign and real-world assets of up to $2 billion, marking one of the country’s most significant steps toward adopting blockchain-based financial infrastructure, PTI reported.The MoU was signed at the Finance Division by Finance Minister Muhammad Aurangzeb and Binance CEO Richard Teng, the Ministry of Finance said in a statement. The agreement aims to assess the feasibility of digitising Pakistan’s assets — including government bonds, treasury bills, commodity reserves and other federally owned holdings — through blockchain platforms.According to the ministry, the proposed collaboration seeks to “enhance liquidity, transparency and international market accessibility,” with any move subject to Pakistani laws, policies and regulatory approvals. The MoU is non-binding, sets no exclusivity, and does not amount to a procurement commitment. Definitive agreements, if pursued, will be negotiated within six months.Officials said the arrangement could allow Binance and its affiliates to provide technical expertise, advisory support, training and capacity building to help Pakistan evaluate compliant blockchain infrastructure that can attract global investors while ensuring full sovereign control.Calling the MoU a major signal of the government’s reform direction, Aurangzeb said, “This is a very strong message — not only for Pakistan, but for the entire world. What we have signed today reflects a long-term partnership… The next step for us is execution, and we are fully committed to delivering results with speed and quality.”Advisor to the Pakistan Crypto Council Changpeng Zhao, who was present at the signing, termed the development “a landmark” for Pakistan’s financial future. “This is a great signal for the global blockchain industry and for Pakistan… now we can move towards full deployment and execution,” he said, expressing confidence that the collaboration would have “positive and lasting outcomes for the economy.”The ministry added that the initiative marks a key milestone in aligning Pakistan’s financial ecosystem with global best practices at a time when tokenisation is gaining traction worldwide.Separately, the Pakistan Virtual Assets Regulatory Authority (PVARA) said it has issued No Objection Certificates to Binance and HTX, launching a phased, FATF-aligned route toward full licensing. “Strong governance, AML and CFT compliance remain central as Pakistan builds a trusted digital asset ecosystem,” PVARA said on X.The authority said Pakistan has taken a “decisive step” toward a regulated digital-asset framework by entering formal arrangements with Binance and HTX.