ISLAMABAD: Pakistan plans to explore converting up to $2 billion in government bonds and other sovereign assets into blockchain-based digital tokens through an memorandum of understanding signed Friday with cryptocurrency giant Binance, the finance ministry announced.
In an official statement, Finance Minister Muhammad Aurangzeb and Binance Co-CEO Richard Teng signed the MoU at the Finance Division. Binance CEO Changpeng Zhao also attended the ceremony.
The MoU establishes a framework for exploring potential collaboration on the tokenization and blockchain-based distribution of Pakistan’s real-world and sovereign assets, including government bonds, treasury bills, commodity reserves, and other federally owned assets.
Subject to applicable laws, policies, and regulatory approvals, it aims to improve liquidity, transparency, and international market accessibility.
Binance may provide technical expertise, advisory support, training, and capacity-building to help Pakistan evaluate its blockchain infrastructure. The initiative aims to boost liquidity, transparency, and access to international markets while respecting Pakistan's regulatory framework and sovereignty.
“This is a very strong message — not only for Pakistan, but the entire world,” Aurangzeb said. “The next step for us is execution, and we are fully committed to delivering results with speed and quality.”
Changpeng called the proposal “a landmark development for Pakistan’s future,” stating it would have “a very big impact on the country’s future and its technology-driven generation.”
The MoU is nonbinding, the ministry noted. Final agreements will be negotiated within six months, subject to all legal, regulatory, and policy approvals. Any future arrangement will be governed by Pakistani law and will not involve exclusivity or procurement commitments.
