Crypto1com

Pakistan, Binance sign MoU on tokenising up to $2 bln in assetsBinance, HTX get initial clearance to begin licence processPakistan embarks on rapid digital-finance, crypto regulatory push
KARACHI, Dec 12 (Reuters) - Pakistan has signed a memorandum of understanding with crypto exchange Binance to explore the "tokenisation" of up to $2 billion in sovereign bonds, T-bills and commodity reserves to boost liquidity and attract investors, the finance ministry said on Friday.
Separately, Pakistan also gave initial clearance for Binance and HTX, a digital-asset platform, to register with regulators to set up local subsidiaries and begin preparations for full exchange licence applications, the virtual assets authority said.
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Binance is making meaningful regulatory progress in Pakistan following high-level meetings with government officials on December 5.
We have now obtained AML registration under the Pakistan Virtual Assets Regulatory Authority (PVARA), marking a key step toward full local licensing.
This development strengthens our collaboration with Pakistani regulators to build a transparent, secure, and innovative digital-asset ecosystem.
We are pleased to share an important update in our ongoing efforts to support responsible digital-asset growth across South Asia. Following strategic engagements between Binance senior leadership and Pakistani officials, we’ve made significant progress in agreeing that clear, forward-looking regulation is key to fostering innovation, protecting users, and unlocking virtual assets’ potential. Binance Co-CEO Richard Teng’s discussions with policymakers advanced conversations on regulation, industry standards, and blockchain’s future in Pakistan.
A major outcome from these ongoing engagements is Binance’s successful acquisition of Anti-Money Laundering (AML) registration under the Pakistan Virtual Assets Regulatory Authority (PVARA). This is a significant milestone that brings us one step closer to full Virtual Asset Service Provider (VASP) licensing and local incorporation.
This phased approach allows us to begin providing AML-registered cross-border services to Pakistani users while we continue working closely with PVARA toward full authorization. It aligns with Pakistan’s regulatory roadmap and reflects our long-term commitment to supporting the country’s digital economy.
A Shared Vision for Transparent and Inclusive Growth
Throughout the visit, our leadership team and Pakistani officials exchanged views on regulatory clarity, transparency, and the development of a safe digital-asset market. We appreciate the thoughtful and constructive engagement from the government, which shows Pakistan’s dedication to building a modern, resilient regulatory environment.
Richard Teng, Co-CEO of Binance, shared his reflections on the progress made: “We are proud to continue our collaboration with PVARA to build a robust, transparent, and inclusive virtual asset ecosystem. Together, we share a commitment to unlocking the potential of blockchain technology for millions of Pakistanis and beyond.”
Bilal Bin Saqib, Chairman of PVARA, expressed strong support for the partnership: “Our ongoing partnership with Binance continues to strengthen as we work together to build a transparent and innovative future for digital assets in Pakistan.”
He added that the recent meeting highlighted the positive regulatory progress Binance is making through the AML registration and licensing process – an important step forward in advancing the shared vision.
Supporting the Region’s Digital Transformation
South Asia continues to be one of the world’s most dynamic regions for digital and financial innovation. Pakistan, with its rapidly digitizing economy and large population, is poised to benefit significantly from secure, well-regulated access to blockchain technologies.
At Binance, our mission is to help build this foundation responsibly. Strengthening compliance, enhancing transparency, and working hand-in-hand with partners like PVARA are essential to ensuring long-term success and user trust.
We remain deeply committed to supporting Pakistan’s progress in digital finance. The advances made this week reflect our strong belief that meaningful collaboration between regulators and industry can accelerate innovation while upholding the highest standards of consumer protection.
Final Thoughts
We thank PVARA and all involved stakeholders for their partnership and constructive dialogue. Together, we are laying the groundwork for a digital asset ecosystem that is safe, inclusive, and built for the future.
We look forward to continued collaboration and to supporting Pakistan as it takes the next steps in its digital transformation.
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