Pakistan and Binance Sign Memorandum of Understanding for the Use of Blockchain in Public Assets
Pakistan and the global digital currency company Binance have today signed a memorandum of understanding, under which the possibilities of managing public financial assets in a more transparent and efficient manner through modern blockchain technology will be explored.
The main objective of this project is to increase access to investment in the country and to make the financial system more transparent. However, any final decision will require legal approval, as the value of these assets could be around two billion dollars.
Binance founder CZ described this agreement as a positive development for Pakistan, stating that it could also create new opportunities for the country's youth. The Ministry of Finance clarified that this is only a preliminary memorandum aimed at exploring possibilities for cooperation, and negotiations for any final agreement will take place in the next six months and will be subject to Pakistan's laws.
