Pakistan TV Satellite

ISLAMABAD: Bilal bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), has said Pakistan is rapidly emerging as a key player in the global digital economy, with the country&rsquo;s youth driving growth in blockchain, crypto adoption and financial technology. In an exclusive interview with Pakistan TV head Adil Shahzeb in Beijing, Bilal bin Saqib said Pakistan has become the world&rsquo;s third-largest consumer market for digital assets, reflecting the talent, innovation and technological awareness of its young population. He said Pakistan&rsquo;s crypto growth took place without formal institutional support, proving that the country&rsquo;s youth are capable of competing at a global level, adding that technology has eliminated geographical barriers. Bilal bin Saqib highlighted the establishment of the Pakistan Virtual Assets Regulatory Authority, an independent body created to regulate, incubate and accelerate crypto-related activities in the country. He said the authority was established within a few months, a pace faster than several leading global jurisdictions. He said international crypto exchanges including Binance and HTX are expected to enter Pakistan after receiving approvals, helping shift crypto activities from the gray market into a regulated framework focused on consumer protection, licensing and oversight. Discussing economic opportunities, Bilal bin Saqib said blockchain technology could transform sectors such as freelancing, remittances and investment. He said blockchain-based systems and stablecoins could significantly reduce transfer fees for overseas Pakistanis sending money home. He also stressed the importance of tokenization, explaining that assets such as land, stocks and bonds could be digitally divided into smaller investment units, allowing ordinary Pakistanis to invest with limited capital. Bilal bin Saqib said Pakistan&rsquo;s large youth population and growing freelancer market provide a strong foundation for future growth in blockchain and artificial intelligence. He said many countries are now approaching Pakistan to understand how it regulated the digital assets space, adding that some of the world&rsquo;s biggest technology brands are also showing interest in exploring opportunities in Pakistan. He emphasized the need for a &ldquo;Pakistan-first&rdquo; approach where young people can build billion-dollar companies within the country instead of moving abroad. He said emerging technologies such as blockchain and artificial intelligence could become major drivers of economic growth and innovation in Pakistan. Bilal bin Saqib credited Pakistan&rsquo;s leadership for improving the country&rsquo;s global image and said the focus now should be on attracting investment, encouraging innovation and ensuring Pakistan secures a leading role in the future digital economy.

Economy

Bilal bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), has said Pakistan is rapidly emerging as a key player in the global digital economy, with the country’s youth driving growth in blockchain, crypto adoption and financial technology

Articles tagged with "global digital economy"

Pakistan emerging as key player in global digital economy: Bilal bin Saqib

Pakistan emerging as key player in global digital economy: Bilal bin Saqib